STOCKHOLDERS' EQUITY

12 Months Ended

Dec. 31, 2014

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY

(11) STOCKHOLDERS' EQUITY

Common Stock

        In December 2013, the Company filed an automatic shelf registration statement with the Securities and Exchange Commission to register for sale any combination of the types of securities described in the shelf registration statement.

        During the years ended December 31, 2013 and 2012, Company issued 21,613,483 and 12,075,000 shares of its common stock in underwritten public offerings resulting in net proceeds to the Company of $278.6 million and $43.5 million, after deducting underwriting fees and offering expenses, respectively.

        During the years ended December 31, 2013 and 2012, Company issued 2,433,608 and 8,003,290 shares of its common stock under our controlled equity offering sales agreement with Cantor Fitzgerald & Co., as amended, resulting in net proceeds to the Company of $17.1 million and $40.1 million, after deducting commission and offering expenses, respectively.

        During the year ended December 31, 2014, the Company entered into an amended and restated supply agreement with Biosyn Corporation. Under the supply agreement, Biosyn will manufacture and supply keyhole limpet hemocyanin (KLH) to the Company for use in connection with the development, manufacture or commercial sale of rindopepimut. In connection with the supply agreement, the Company issued to Biosyn 152,172 shares of its common stock having a value of $2.0 million. The Company is recording the $2.0 million to research and development expense through August 2021, the current term of the supply agreement. At December 31, 2014, the Company recorded $0.3 million and $1.6 million to prepaid assets and other assets related to this stock issuance, respectively.

Convertible Preferred Stock

        At December 31, 2014, the Company had authorized 3,000,000 shares of preferred stock all of which have been designated Class C Preferred Stock including 350,000 shares which have been designated Series C-1 Junior Participating Cumulative Preferred Stock (the "Series C-1 Preferred Stock").