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Stockholders' Equity (Tables)
 9 Months Ended
Sep. 30, 2018
Equity [Abstract]  
Summary of Changes in Stockholders' Equity

The following table presents the changes in stockholders’ equity for the nine months ended September 30, 2018:

 

(In thousands, except share data)

 

Common Stock

$0.0001

Par Value

 

 

Additional

Paid-In

Capital

 

 

Accumulated

Other

Comprehensive

Income / (Loss)

 

 

Accumulated

Deficit

 

 

Total

Stockholders’

Equity

 

 

 

Shares

 

 

Amount

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance as of December 31, 2017

 

 

24,390,033

 

 

$

2

 

 

$

470,571

 

 

$

(143

)

 

$

(366,111

)

 

$

104,319

 

Stock purchase under ESPP

 

 

24,684

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Proceeds from 'At-the-market' offering, net

 

 

1,329,582

 

 

 

—

 

 

 

9,438

 

 

 

—

 

 

 

—

 

 

 

9,438

 

Stock-based compensation expense

 

 

—

 

 

 

—

 

 

 

4,729

 

 

 

—

 

 

 

—

 

 

 

4,729

 

Stock issuance due to warrant exercise, cashless

 

 

299,215

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Proceeds from exercise stock options

 

 

7,850

 

 

 

—

 

 

 

26

 

 

 

—

 

 

 

—

 

 

 

26

 

Unrealized gains on short-term investments

 

 

—

 

 

 

—

 

 

 

—

 

 

 

108

 

 

 

—

 

 

 

108

 

Employee withholdings ESPP

 

 

—

 

 

 

—

 

 

 

129

 

 

 

—

 

 

 

—

 

 

 

129

 

Cumulative effect adjustment of adoption ASU

   2014-09

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

649

 

 

 

649

 

Retirement of common stock in exchange for

   common stock warrant1

 

 

(2,000,000

)

 

 

—

 

 

 

(16,780

)

 

 

—

 

 

 

—

 

 

 

(16,780

)

Issuance of common stock warrant in exchange

   for retirement of common stock1

 

 

—

 

 

 

—

 

 

 

16,780

 

 

 

—

 

 

 

—

 

 

 

16,780

 

Net loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(55,124

)

 

 

(55,124

)

Balance as of September 30, 2018

 

 

24,051,364

 

 

$

2

 

 

$

484,893

 

 

$

(35

)

 

$

(420,586

)

 

$

64,274

 

 

1

On June 18, 2018, the Company signed an exchange agreement with Biotechnology Value Fund and certain affiliated funds (“BVF”) under which BVF exchanged 2,000,000 shares of common stock for 2,000,000 warrant shares. The Company recorded the issuance of the warrants and the retirement of the common stock at fair value within additional paid-in capital. BVF can exercise the warrant shares at an exercise price per share equal to $0.0001 per share and the warrant shares expire 20 years from issuance. Per the terms of the warrant agreement, the outstanding warrants to purchase shares of common stock may not be exercised if the holder's ownership of the Company's common stock would exceed 9.99 percent following such exercise.