Stockholders' Equity

3 Months Ended

Mar. 31, 2017

Stockholders' Equity

Stockholders' Equity

(9) Stockholders’ Equity

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. During three months ended March 31, 2017, Company issued 3,572,608 shares of its common stock under this controlled equity offering sales agreement with Cantor resulting in net proceeds to the Company of $12.8 million, after deducting commission and offering expenses. At March 31, 2017, the Company had $32.0 million remaining in aggregate gross offering price available under the agreement.