Note 8. Subsequent Events

Amendment to At-the-Market Equity Offering Sales Agreement

On May 8, 2024, the Company entered into an amendment (the "Amendment") to its at-the-market equity offering sales agreement, dated May 28, 2019 and as amended on April 9, 2021, with Stifel, Nicolaus & Company, Incorporated (“Stifel”) to (i) replace certain references to the Company’s expired shelf registration statement on Form S-3 (File No. 333-254702) filed on March 25, 2021 with the Securities and Exchange Commission (“SEC”) and declared effective April 5, 2021, with reference to the Company’s effective shelf registration statement on Form S-3 (File No. 333-278388), filed on March 29, 2024 with the SEC and declared effective on April 19, 2024 (the “Registration Statement”), (ii) update public float calculations included therein and (iii) reduce the commission rate for fees owed to Stifel from 4.0% of the gross sales price per share sold to 3.0% of the gross sales price per share sold.

ATM Sales

Sales of common stock under the ATM from April 1, 2024 to May 10, 2024 amounted to approximately 0.2 million shares, which resulted in total net proceeds of approximately $0.7 million.

Amendment to 2020 Equity Incentive Plan

On February 27, 2024, the Board of Directors approved an increase of 700,000 shares to the authorized number of shares under the 2020 Equity Incentive Plan, increasing the total authorized number of shares from 1,800,000 shares to 2,500,000 shares. This increase was approved by the stockholders at the shareholders’ annual meeting on April 19, 2024.