Stockholders' Equity

12 Months Ended

Dec. 31, 2018

Note 6 – Stockholders’ Equity

The Company is authorized to issue 5,000,000 shares of preferred stock as of December 31, 2018 and 2017, respectively. The Company was authorized to issue 50,000,000 shares of common stock as of December 31, 2017. In May 2018, the Company’s stockholders approved the adoption of the Fourth Amended and Restated Certificate of Incorporation, which amended and restated the Company’s Third Amended and Restated Certificate of Incorporation, as amended, to, among other things, increase the authorized number of shares of common stock, par value $0.001 per share, from 50,000,000 shares to 100,000,000 shares.

In January 2018, the Board of Directors authorized the filing of a Certificate of Elimination with the Secretary of State of the State of Delaware to remove the Certificate of Designation of Series A Non-Voting Convertible Preferred Stock (the Series A Preferred Stock) from the Company’s Third Amended and Restated Certificate of Incorporation, as amended (which was amended and restated in May 2018), because no shares of the Series A Preferred Stock were outstanding and no shares were available to be issued.

Sale of Common Stock

On November 6, 2017, the Company sold to various investors an aggregate of 2,541,000 shares of common stock in a public offering at $27.25 per share, which included the exercise in full by the underwriters of their option to purchase 331,500

additional

shares of common stock, which occurred on November 2, 2017.

The Company received aggregate net proceeds of $64.8 million from the offering and option exercise, after deducting underwriting discounts and commissions and offering expenses.

On December 29, 2017, the Company filed a registration statement on Form S-3 with the SEC using a “shelf” registration statement, file number 333-222366, which became effective January 10, 2018. Under this shelf registration process, the Company may from time to time sell any combination of the securities described in the registration statement in one or more offerings up to an aggregate offering price of $250.0 million. In connection with the filing of this registration statement, the Company entered into a sales agreement under which the Company may offer and sell shares of its common stock having an aggregate offering price of up to $75.0

million through

“at the market offerings” (ATM). To date, the Company has not sold any shares pursuant to the ATM.

On July 16, 2018, the Company sold to various investors an aggregate of 4,600,000 shares of common stock in a public offering at $36.00 per share, which included the exercise in full by the underwriters of their option to purchase 600,000 additional shares of common stock, which occurred on July 12, 2018.

The Company received aggregate net proceeds of approximately $155.4 million from the offering and the option exercise, after deducting underwriting discounts and commissions and offering expenses payable by the Company.