Subsequent Events |
3 Months Ended | ||
|---|---|---|---|
Mar. 31, 2024 | |||
| Subsequent Events [Abstract] | |||
| Subsequent Events |
On April 11, 2024, the Company
entered into a Consulting Agreement (the “2024 Consulting Agreement”), pursuant to which Dr. Pepose, a director of the Company, agreed to continue to serve as a consultant of the Company following the expiration of the 2022
Consulting Agreement. Pursuant to the 2024 Consulting Agreement, Dr. Pepose will be paid a monthly consulting fee of $39,583.
Additionally, Dr. Pepose received an award of 32,000 RSUs, as well as stock options to purchase 48,000 shares of the Company’s common stock. The RSUs awarded under the 2024 Consulting Agreement will vest on April 11, 2025, subject
to Dr. Pepose’s continued service over that period. The options granted under the 2024 Consulting Agreement will vest in 12
equal monthly installments beginning on May 11, 2024, subject to Dr. Pepose’s continued service over that period. The 2024 Consulting Agreement is scheduled to terminate on April 11, 2025.
Subsequent to March 31, 2024, 538,566 shares of common stock were sold under the ATM for gross proceeds through
May 6, 2024 in the amount of $1.1 million, before deducting issuance expenses, including the placement agent’s fees and
legal and accounting expenses, in the amount of $28,000.
Subsequent to March 31, 2024, a total of 250,000 shares of the Company’s common stock were sold under the Purchase Agreement for net proceeds through May 6, 2024 in the amount of
$460,000.
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