Stockholders' Equity

6 Months Ended

Jun. 30, 2018

Equity [Abstract]

Stockholders' Equity

Stockholders’ Equity

The Company currently has an at-the-market (“ATM”) sales agreement with Cantor Fitzgerald & Co. (“Cantor”) as sales agent, pursuant to which the Company may offer and sell, from time to time, through Cantor, shares of its common stock having an aggregate offering price of up to $75.0 million under a previously filed and effective registration statement on Form S-3 (File No. 333-220759) and a prospectus supplement filed in December 2017. Cantor is entitled to a commission at a fixed commission rate of up to 3.0% of the gross proceeds of the sales price of all common stock sold under the ATM sales agreement. The Company and Cantor may each terminate the ATM sales agreement at any time upon ten days’ prior notice.

In the second quarter of 2018, the Company issued a total of 740,417 shares of its common stock under the ATM offering program and received net proceeds of approximately $30.3 million after deducting $1.1 million of commissions and other offering expenses.