|6 Months Ended|
Jun. 30, 2023
|Subsequent Events [Abstract]|
12. Subsequent Events
On July 13, 2023, at the 2023 Annual Meeting of the Company’s Stockholders (the “Annual Meeting”), the Company’s stockholders authorized, in accordance with Nasdaq Listing Rule 5635(d), the issuance of shares of the Company’s common stock, including shares issuable upon the exercise of warrants, having an aggregate price of up to $5,000,000 to Redmile from time to time, at a purchase price of $1.60 per share, pursuant to, and subject to the terms and condition of, the Securities Purchase Agreement by and between the Company and Redmile.
On July 13, 2023, at the Annual Meeting, the Company’s stockholders authorized, in accordance with Nasdaq Listing Rule 5635(d), the adjustment to the exercise price of the warrant issued to SVB, which warrant is exercisable to purchase up to 190,330 shares of the Company’s common stock at any time for a period of approximately seven years from June 13, 2023. The exercise price of this warrant was adjusted to $3.01 per share.
On July 13, 2023, at the Annual Meeting, the Company’s stockholders re-elected Jason Krikorian, Margie L. Traylor and Robert Faulkner to the board, each to hold office for a three-year term and until the 2026 annual meeting of the Company’s stockholders or until his or her successor is duly elected and qualified.
On July 13, 2023, each non-management director was granted 21,598 RSUs under the Company’s 2020 Equity Incentive Plan. Each RSU represents a contingent right to receive one share of the Company’s common stock and will vest in full on the one-year anniversary of July 13, 2023, so long as the grantee remains director on such date.
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef