On the Company entered into the Aspire Purchase Agreement, which provides that, upon the terms and subject to the conditions and limitations set forth therein, Aspire Capital is 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. The Company recorded thousand in general and administrative expenses related to the issuance of the Commitment Shares. During the months ended the Company issued common shares under the Aspire Purchase Agreement at an average price of per share for gross and net proceeds of million. On a cumulative basis to the Company has raised a total of approximately million gross and net proceeds under the Aspire Purchase Agreement.

 

 

On we entered into the Aspire Purchase Agreement, which provided that, upon the terms and subject to the conditions and limitations set forth therein, Aspire Capital is 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 we also issued Common Shares to Aspire Capital in consideration for entering into the Aspire Purchase Agreement. 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 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 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 months ended 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. On a cumulative basis to 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:

 

			Three months ended March 31, 2019				Three months ended March 31, 2018
Net loss		$	(5,506	)		$	(6,814	)
Weighted-average common shares – basic and diluted			39,846				29,042
Net loss per share – basic and diluted		$	(0.14	)		$	(0.23	)

 

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