Subsequent events |
3 Months Ended | |
|---|---|---|
Sep. 30, 2020 | ||
| Subsequent Events [Abstract] | ||
| Subsequent events |
1 3 . Subsequent events On October 6, 2020, the Company announced the closing of an underwritten public offering of 3,225,806 shares of its common stock (or common stock equivalents in lieu thereof) at a price to the public of $3.10 per share. The Company also announced that the underwriter fully exercised its over-allotment option to purchase 483,870 additional shares of its common stock at the
offering price. The total offering of 3,709,676 shares of common stock and common stock equivalents consisted of 2,666,644 firm shares of common stock, 483,870 shares of common stock purchased under the underwriter’s over-allotment options and 559,162 shares of common stock underlying pre-funded warrants initially purchased for $3.09 per share and immediately exercisable at $0.01 per share. The Company received gross proceeds of approximately $11.5 million and net proceeds of approximately $9.9 million from the offering.The Company is closely monitoring the impact of the pandemic of the novel strain of coronavirus
COVID-19 (“COVID-19”) on all aspects of its business, including how it will impact our employees, suppliers, vendors and business partners. While the Company did experience some disruption from COVID-19 including disruption of the timing and completion of certain pre-clinical trials we are unable to predict the overall impact that COVID-19 will have on our financial position and operating results due to numerous uncertainties. |