Stockholders' Equity

3 Months Ended

Mar. 31, 2021

Stockholders’ Equity

Preferred Stock

As of March 31, 2021 and December 31, 2020, the Company had 10,000,000 shares of preferred stock, par value $0.0001 authorized and no shares issued and outstanding.

Common Stock

As of March 31, 2021 and December 31, 2020, the Company had authorized 200,000,000 shares of common stock, par value $0.0001. As of March 31, 2021 and December 31, 2020, the Company had 87,993,598 shares and 87,651,352 shares issued and outstanding, respectively.

The holders of shares of the Company’s common stock are entitled to one vote per share on all matters to be voted upon by the Company’s stockholders and there are no cumulative rights. Subject to preferences that may be applicable to any outstanding preferred stock, the holders of shares of the Company’s common stock are entitled to

receive ratably any dividends that may be declared from time to time by the Company’s Board out of funds legally available for that purpose. In the event of the Company’s liquidation, dissolution or winding up, the holders of shares of the Company’s common stock are entitled to share ratably in all assets remaining after payment of liabilities, subject to prior distribution rights of preferred stock then outstanding. The Company’s common stock has no preemptive or conversion rights or other subscription rights. There are no redemption or sinking fund provisions applicable to the Company’s common stock. The outstanding shares of the Company’s common stock are fully paid and non-assessable.

Common Stock Warrants

As of March 31, 2021 and December 31, 2020, warrants to purchase 250,146 and 413,320 shares of common stock at a price of $3.00 per share were outstanding. The warrants expired unexercised as follows: 163,174 warrants expired on March 27, 2021, 132,884 expired on April 28, 2021, and 117,262 expired on May 3, 2021. The warrants are classified as a liability which is remeasured each period at fair value. See Note 12, Fair Value Measurements for more information on the fair value of the common stock warrant liability.

Accumulated Other Comprehensive Income (Loss)

The following table summarizes the changes in each component of accumulated other comprehensive income (loss), net of tax, for 2021:


	Unrealized gains (losses) on short-term investments		Total
Balance at December 31, 2020	$	83	$	83
Other comprehensive loss before reclassifications	(51)		(51)
Net current period other comprehensive loss	(51)		(51)
Balance at March 31, 2021	$	32	$	32

The following table summarizes the changes in each component of accumulated other comprehensive income (loss), net of tax, for 2020:


	Unrealized gains (losses) on short-term investments		Total
Balance at December 31, 2019	$	(27)	$	(27)
Other comprehensive income before reclassifications	10		10
Net current period other comprehensive income	10		10
Balance at March 31, 2020	$	(17)	$	(17)