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Stockholders' Equity
12 Months Ended
Dec. 31, 2019
Stockholders' Equity  
Stockholders' Equity

(11) Stockholders’ Equity

Common Stock

In December 2016, the Company filed a new 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 up to a maximum aggregate offering price of $250 million. Such registration statement was declared effective on February 13, 2017. In December 2019, the Company filed a new 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 up to a maximum aggregate offering price of $150.0 million.

In May 2016, the Company entered into an agreement with Cantor Fitzgerald & Co. (“Cantor”) to allow the Company to issue and sell shares of its common stock having an aggregate offering price of up to $60.0 million from time to time through Cantor, acting as agent. In November 2017, the Company filed a prospectus supplement registering the offer and sale of shares of common stock of up to an additional $75.0 million under the agreement with Cantor. During the years ended December 31, 2019, 2018 and 2017, the Company issued 5.0 million, 2.7 million and 1.2 million shares of its common stock, respectively, under this controlled equity offering sales agreement with Cantor resulting in net proceeds to the Company of $16.2 million,  $29.0 million and $51.0 million, respectively, after deducting commission and offering expenses. At December 31, 2019, the Company had $20.7 million remaining in aggregate gross offering price available under the Cantor agreement. From January 1, 2020 through February 29 2020, the Company issued 520,606 shares of its common stock resulting in net proceeds to the Company of $1.2 million.

Convertible Preferred Stock

At December 31, 2019, 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”). No shares of Series C-1 Preferred Stock were outstanding at December 31, 2019 or 2018.