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Use of Proceeds from Sales of Registered Securities
−Removed: On February 4, 2022, our registration statement on Form S-1 (File No.
−Removed: 333-260099) and our registration statement on Form S-1MEF (File No.
−Removed: 333-262512) (collectively, the “Registration Statements”) for our IPO were declared effective by the SEC.
−Removed: Pursuant to such Registration Statements, we sold an aggregate of 3,200,000 shares of our common stock at a price of $5.00 per share for aggregate net cash proceeds of approximately $13.6 million, which amount is net of $1.12 million in underwriter’s discounts, commissions and expenses, and $1.3 million of other expenses incurred in connection with the offering.
−Removed: We closed the offering on February 8, 2022.
−Removed: On August 24, 2022, our registration statement on Form S-1 (File No.
−Removed: 333-266857) (the “Private Placement Registration Statement”) was declared effective by the SEC.
−Removed: Pursuant to the Private Placement Registration Statement, we sold 1,924,689 shares of our common stock at a price of $8.25 and 909,091 pre-funded warrants to purchase shares of common stock for $8.25 for aggregate net cash proceeds of approximately $14.3 million, which amount is net of $1.4 million in placement agent discounts, commissions and expenses, and $0.3 million of other expenses incurred in connection with the offering.
−Removed: In this offering, we also issued to the investors who participated in the offering preferred investment options to purchase up to an aggregate of 1,924,689 shares of common stock, at an exercise price of $9.65 per share with a term of three and one-half years from the date of issuance.
−Removed: On March 17, 2023, we filed a shelf registration statement on Form S-3 (the “Registration Statement”).
−Removed: Pursuant to the Registration Statement, we may offer and sell securities having an aggregate public offering price of up to $150.0 million.
−Removed: In connection with the filing of the Registration Statement, we also entered into a sales agreement with H.
−Removed: Wainwright & Co.
−Removed: (the “Sales Agent”), pursuant to which we may issue and sell shares of our common stock for an aggregate offering price of up to $40.0 million under an at-the-market offering program (the “ATM”), which is included in the $150.0 million of securities that may be offered pursuant to the Registration Statement.
−Removed: Pursuant to the ATM, we will pay the Sales Agent a commission rate of up to 3.0% of the gross proceeds from the sale of any shares of our common stock.
−Removed: We are not obligated to make any sales of shares of our common stock under the ATM.
−Removed: As of December 31, 2024, we have sold 1,876,013 shares of our common stock and received $16.8 million in net proceeds under the ATM.
−Removed: On February 5, 2025, in connection with the Registration Statement, we entered into an underwriting agreement (the "Underwriting Agreement”) with Lucid Capital Markets, LLC (the "Underwriter”).
−Removed: Pursuant to the Underwriting Agreement, we agreed to sell to the Underwriter, in a firm commitment underwritten public offering, 2,700,000 shares (the "Firm Shares”) of our common stock, $0.00001 par value per share ("Common Stock”), at a price to the public of $5.00 per share, less underwriting discounts and commissions.
+Added: On February 5, 2025, in connection with a shelf registration statement on Form S-3 filed on March 17, 2023, we entered into an underwriting agreement (the "Underwriting Agreement”) with Lucid Capital Markets, LLC (the "Underwriter”).
+Added: Pursuant to the Underwriting Agreement, we agreed to sell to the Underwriter, in a firm commitment underwritten public offering, 2,700,000 shares of our common stock, $0.00001 par value per share, at a price to the public of $5.00 per share, less underwriting discounts and commissions.
In addition, pursuant to the Underwriting Agreement, we granted the Underwriter an option, exercisable for 30 days, to purchase up to an additional 405,000 shares of Common Stock (the "Additional Shares”).
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The transaction closed on February 6, 2025.
−Removed: The aggregate net proceeds are approximately $14.4 million after deducting underwriting discounts and commissions.
−Removed: We intend to use the net proceeds from these offerings to fund the preclinical and clinical development of NXP800 and NXP900, to continue development and sponsored research related to our current product candidates or any future product candidate, hiring of additional personnel, capital expenditures, costs of operating as a public company and other general corporate purposes.
+Added: The aggregate net proceeds were approximately $14.4 million after deducting underwriting discounts and commissions.
+Added: We intend to use the net proceeds from the offering to fund the preclinical and clinical development of NXP900, to continue development and sponsored research related to our current product candidate or any future product candidate, hiring of additional personnel, capital expenditures, costs of operating as a public company and other general corporate purposes.
There has been no material change in the expected use of the net proceeds from our IPO, public or private placement offerings as described in our final prospectus filed with the SEC on February 8, 2022 and February 6, 2025, respectively, pursuant to Rule 424(b) under the Securities Act.
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.