Stockholders' Equity

9 Months Ended

Sep. 30, 2017

Stockholders' Equity

Stockholders' Equity

(7)  Stockholders’ Equity

In May 2016, the Company and Cantor Fitzgerald & Co. (“Cantor”) entered into a controlled equity offering sales agreement (“2016 Cantor Agreement”) 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 the nine months ended September 30, 2017, the Company issued 11,326,363 shares of its common stock under the 2016 Cantor Agreement resulting in net proceeds to the Company of $32.6 million, after deducting commission and offering expenses. At September 30, 2017, the Company had $11.7 million remaining in aggregate gross offering price available under the 2016 Cantor Agreement. In October 2017, the Company completed sales under the 2016 Cantor Agreement and issued 3,871,709 shares of its common stock resulting in net proceeds to the Company of $11.3 million.