ATM

On October 9, 2020, the Company updated the aggregate amount that may be issued and sold under the 2019 ATM from $13.5 million to approximately $14.7 million by filing a prospectus supplement pursuant to which the Company registered an additional approximate $1.2 million of shares of common stock. As of the date of this filing, the Company has sold a total of $12.0 million of shares of common stock pursuant to the 2019 ATM sales agreement.

Sales under the 2019 ATM that were made from October 1, 2020 to November 5, 2020 were approximately 1.2 million shares that totaled net proceeds of approximately $4.7 million.

Equity Grants

On October 28, 2020, the Compensation Committee of the Board granted time-based RSUs to certain of the Company's executive officers, employees, and consultants. Each RSU represents a contingent right to receive, upon vesting, one share of the Company's Common Stock. The number of RSUs granted to executive officers, employees and consultants totaled 243,800. These RSU awards granted vest in three equal installments on each of the first three anniversaries of the grant date, on October 28, 2021, October 28, 2022 and October 28, 2023. On the same date, the Compensation Committee of the Board approved a grant of a total of 21,200 shares of common stock to the Company’s four directors.  All of these shares vest on November 10, 2020.