As of December 31, 2019 and 2018, the authorized capital stock of the Company included 150,000,000 shares of common stock, $0.0001 par value, and 10,000 shares of undesignated preferred stock. As of December 31, 2019 and 2018, no undesignated shares of preferred stock were outstanding.

In accordance to the Fourth Amended and Restated Certificate of Incorporation, the holders of the common stock shall have the exclusive right to vote for the election of directors of the Company and on all other matters requiring stockholder action, each outstanding share entitling the holder thereof to one vote on each matter properly submitted to the stockholders of the Company for their vote; provided, however, that, except as otherwise required by law, holders of common stock, as such, shall not be entitled to vote on any amendment to any amendment to a certificate of designations of any series of undesignated preferred stock that alters or changes the powers, preferences, rights or other terms of one or more outstanding series of undesignated preferred stock if the holders of such affected series of undesignated preferred stock are entitled to vote, either separately or together with the holders of one or more other such series, on such amendment pursuant to a certificate of designations of any series of undesignated preferred stock.

On June 20, 2018, the Company’s registration statement on Form S-1 relating to its IPO was declared effective by the SEC. The IPO closed on June 25, 2018 and the Company issued and sold 5,247,958 common shares at a public offering price of $19.00 per share for net proceeds of $90,103 after deducting underwriting discounts and commissions of $6,980 and other offering expenses of approximately $2,628. Simultaneously, on June 25, 2018, the Company issued and sold 787,193 additional common shares, pursuant to the full exercise of the underwriters’ option to purchase additional shares, for net proceeds of $13,910 after deducting underwriting discounts and commissions of $1,047. The aggregate net proceeds to the Company from the IPO, after deducting underwriting discounts and commissions and other offering costs, were $104,013.

In July 2019, the Company closed an underwritten public offering of 7,475,000 shares of its common stock at a public offering price of $18.50 per share, which included 975,000 shares of the Company’s common stock resulting from the full exercise of the underwriters’ option to purchase additional shares at the public offering price, less underwriting discounts and commissions (the “July 2019 Follow-on Offering”). The net proceeds to the Company from the July 2019 Follow-on Offering, after deducting underwriting discounts and commissions and other offering expenses payable by the Company, were approximately $129,500.

At December 31, 2019 and 2018, the Company has reserved the following shares of common stock for future issuance:

	December 31,
	2019		2018
Shares reserved for vesting of restricted stock awards		30,252		153,276
Shares reserved for exercise of outstanding stock options		3,414,445		2,164,101
Shares reserved for vesting of restricted stock units		2,300
Shares reserved for issuance under the 2018 Stock Option and Incentive Plan		332,513		385,561
Shares reserved for issuance under the 2018 Employee Stock Purchase Plan		459,595		223,200
Shares reserved for issuance under the 2019 Inducement Plan		1,800,000		—
Total shares of authorized common stock reserved for future issuance		6,039,105		2,926,138