Shares issued as per At-the-Market Equity Distribution Agreement ("ATM")

6 Months Ended

Jun. 30, 2025

Shares issued as per At-the-Market Equity Distribution Agreement ("ATM")

Shares issued as per At-the-Market Equity Distribution Agreement ("ATM")

11.Shares issued as per At-the-Market Equity Distribution Agreement (“ATM”)

In December 2022, the Company filed a prospectus supplement with the Securities and Exchange Commission to sell up to $30 million of the Company’s common shares from time to time through an ATM. In the three and six months ended June 30, 2025, the Company issued 4,567,770 and 7,542,996 common shares, respectively, at an average share price of $2.08 and $2.02, respectively. The net proceeds from the ATM for the three and six months ended June 30, 2025, were $9.2 million and $14.8 million respectively. During the three and six months ended June 30, 2025, the Company incurred $0.3 million and $0.5 million, respectively, as commission and fees. (During the three months and six months ended June 30, 2024, the Company issued 1,634,588 common shares at an average share price of $1.61 resulting in net proceeds amounting to $2.6 million after incurring $42 thousand as commission and fees).