Stockholders' Equity

3 Months Ended

Mar. 31, 2020

Stockholders Equity Note [Abstract]

Stockholders' Equity

8. Stockholders’ Equity

On January 3, 2020, the Company entered into a sales agreement with a sales agent to establish an at-the-market (ATM) offering program, under which the Company is permitted to offer and sell, from time to time, shares of common stock having a maximum aggregate offering price of up to $200 million. As of March 31, 2020, no securities have been issued pursuant to the ATM agreement.

In March 2019, the Company completed a follow-on offering and issued 5,663,750 shares of common stock at a price of $51.00 per share, which included 738,750 shares sold directly to the underwriters upon exercise of their over-allotment option. During the three months ended March 31, 2019, the Company received proceeds totaling approximately $271.2 million from the offering, net of underwriting discounts and commissions and offering expenses.

Common Stock Reserved for Issuance

The Company has reserved shares of common stock for issuance as follows:

	March 31, 2020		December 31, 2019
Options and awards issued and outstanding		6,181,912		5,315,254
Shares available for issuance under 2015 Stock Option and Incentive Plan		1,440,826		685,435
Shares available for issuance under 2015 Employee Stock Purchase Plan		1,604,331		1,140,541
Total		9,227,069		7,141,230