On the Company completed a confidentially marketed public offering through the issuance of common shares at a price of per share for gross proceeds of million (approximately million net of share issue costs). Costs associated with the proceeds consisted of a cash commissions and share issue costs, which consisted of agent commission, legal and professional fees and listing fees.

 

 

On the Company completed a confidentially marketed public offering through the issuance of common shares at a price of per share for gross proceeds of (approximately million net of share issue costs). Costs associated with the proceeds consisted of a cash commissions and share issue costs, which consisted of agent commission, legal and professional fees and listing fees.

 

 

On the Company entered into the Aspire Purchase Agreement, which provided that, upon the terms and subject to the conditions and limitations set forth therein, Aspire Capital was committed to purchase up to an aggregate of million of Common Shares over approximately months. Pursuant to the terms of this agreement, on the Company issued Common Shares (“Commitment Shares”) to Aspire Capital in consideration for entering into the Aspire Purchase Agreement for a total cost of thousand. During the period from up to the date the Aspire Purchase Agreement was terminated, the Company issued common shares under the agreement at an average price of per share for gross and net proceeds of million.

 

 

On the Company entered into the Aspire Purchase Agreement, which provided that, upon the terms and subject to the conditions and limitations set forth therein, Aspire Capital was committed to purchase up to an aggregate of million of Common Shares over approximately months. Pursuant to the terms of this agreement, on the Company issued Common Shares (“Commitment Shares”) to Aspire Capital in consideration for entering into the Aspire Purchase Agreement for a total cost of thousand. During the period from up to the date the Aspire Purchase Agreement was terminated, the Company issued common shares under the agreement at an average price of per share for gross and net proceeds of million. On a cumulative basis up to the Company raised a total of approximately million gross and net proceeds under the Aspire Purchase Agreement. As of the Company has issued the maximum number of shares issuable under this facility without shareholder approval.

 

 

On the Company entered into the Aspire Purchase Agreement, which provided that, upon the terms and subject to the conditions and limitations set forth therein, Aspire Capital was committed to purchase up to an aggregate of of Common Shares over approximately months. During the year ended and pursuant to the terms of the Aspire Purchase Agreement, Aspire Capital purchased Common Shares for gross proceeds of thousand ( thousand net of cash share issue costs) and the Company also issued Common Shares to Aspire Capital in consideration for entering into the Aspire Purchase Agreement. During the year ended the Company issued common shares under the Aspire Purchase Agreement at an average price of per share for gross and net proceeds of approximately million. On a cumulative basis to the Company has raised a total of million gross proceeds under the Aspire Purchase Agreement, the total amount that was available under the Agreement.

 

 

On the Company entered into an “At-The-Market” Facility (“ATM”) equity distribution agreement with Piper Jaffray and Canaccord Genuity acting as co-agents. Under the terms of this facility, the Company from time to time, sell shares of our common stock having an aggregate offering value of up to million through Piper Jaffray and Canaccord Genuity on the Nasdaq Capital Market. During the period from to the date the “ATM” Facility was terminated, the Company did issue any shares under this ATM equity.

 

 

On the Company entered into an “At-The-Market” Facility (“ATM”) equity distribution agreement with Cantor Fitzgerald acting as sole agent. Under the terms of this facility, the Company from time to time, sell shares of our common stock having an aggregate offering value of up to million through Cantor Fitzgerald on the Nasdaq Capital Market. During the year ended the Company issued shares under this ATM equity facility at an average price of for gross proceeds of million ( million net of share issue costs). During the period from to the date the Agreement was terminated, the Company issued shares under this ATM equity facility at an average price of for gross proceeds of thousand ( thousand net of share issue costs). Costs associated with the proceeds consisted of a cash commission. As of the Company has raised a total of million gross proceeds ( million net of share issue costs) under the ATM Facility.

 

 

Loss per common share is calculated using the weighted average number of common shares outstanding and is presented in the table below:

 

(in thousands)			Year ended Dec 31, 2019				Year ended Dec 31, 2018
Net loss		$	(26,277	)		$	(28,868	)
Weighted-average common shares – basic and diluted			50,160				33,391
Net loss per share – basic and diluted		$	(0.52	)		$	(0.86	)

 

The effect of any potential exercise of the Company’s stock options outstanding during the year has been excluded from the calculation of diluted loss per common share as it would be anti-dilutive.