Reverse Stock Split and Public Offering

12 Months Ended

Dec. 31, 2015

Equity [Abstract]

Reverse Stock Split and Public Offering

Reverse Stock Split and Public Offering

In June 2015, the Company filed an amendment to its Fifth Amended and Restated Certificate of Incorporation to effect a reverse stock split of the Company’s common stock at a ratio of 1-for-8, and a change in the number of authorized shares of the Company’s common stock to 50,000,000 shares. The reverse stock split and change in authorized shares became effective July 1, 2015. Accordingly, all historical per share information presented in these consolidated financial statements has been adjusted to reflect the effect of the reverse stock split and change to authorized shares of common stock.

In August 2015, the Company completed a public offering of 5,462,500 shares of its common stock at a public offering price of $18.00 per share. The Company received net proceeds of approximately $92,000,000 after deducting underwriting fees and offering-related transaction costs.