ACAST
Cash and cash equivalents and marketable securities totaled $25.8 million as of September 30, 2019, , Acasti believes that existing cash plus the recent exercise of warrants will fully fund the Company’s operations beyond the completion of our Phase 3 clinical trials through at least June of 2020.
ATM Program
On February 14, 2019, the Corporation entered into an “at-the-market” (“ATM”) sales agreement with B. Riley FBR, Inc., pursuant to which the Corporation’s common shares may be sold from time to time for aggregate gross proceeds of up to US $30 million, with sales only being made on the NASDAQ Stock Market. The common shares may be distributed at market prices prevailing at the time of any sale and, as a result, prices may vary between purchasers and during the period of distribution. As at September 30, 2019, no securities have been issued in relation to the ATM. Costs incurred in connection to the ATM of $224 have been recorded as deferred financing costs.
