Quarterly report pursuant to Section 13 or 15(d)

Equity

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Equity
 6 Months Ended
Jun. 30, 2013
Equity [Abstract]  
Equity

 

 

8. Equity

 

In February 2013, we completed a public offering of 1,542,389 shares of the Company’s common stock at a price of $3.10 per share less underwriting discounts and commissions (the February 2013 Offering).  The net proceeds to the Company were approximately $4.5 million after deducting expenses associated with the February 2013 Offering.  In April 2013, we completed another public offering of 2,100,000 shares of the Company’s common stock at a price of $2.43 per share less underwriting discounts and commissions (the April 2013 Offering, and collectively with the February 2013 Offering, the 2013 Offerings).  The net proceeds to the Company were approximately $4.8 million after deducting expenses associated with the April 2013 Offering.  The Company will continue to use the net proceeds from the 2013 Offerings to fund the clinical development and launch of its current drug products, to fund other potential product pipeline opportunities, and for general corporate purposes.  The 2013 Offerings were underwritten by Ladenburg Thalmann & Co. Inc. and were made pursuant to the Company’s existing effective shelf registration statement on Form S-3.