Stockholders' Equity |
(7) Stockholders’ Equity In May 2016, the Company entered into a controlled equity offering sales agreement with Cantor Fitzgerald & Co. (“Cantor”) to allow the Company to issue and sell shares of its common stock from time to time through Cantor, acting as agent. At June 30, 2021, the Company had $50.0 million remaining in aggregate gross offering price available under the Company’s November 2020 prospectus. In July 2021, the Company issued 6,845,238 shares of its common stock in an underwritten public offering resulting in net proceeds to the Company of approximately $270.0 million, after deducting underwriting fees and offering expenses. The changes in Stockholders’ Equity during the three and six months ended June 30, 2021 and 2020 are summarized below: | | | | | | | | | | | | | | | | | | | | | | | | | | | | Accumulated | | | | | | | | | Common | | Common | | Additional | | Other | | | | | Total | | | Stock | | Stock Par | | Paid-In | | Comprehensive | | Accumulated | | Stockholders’ | | | Shares | | Value | | Capital | | Income | | Deficit | | Equity | | | | (In thousands, except share amounts) | Consolidated balance at December 31, 2020 | | 39,603,771 | | $ | 40 | | $ | 1,279,824 | | $ | 2,589 | | $ | (1,073,096) | | $ | 209,357 | Shares issued under stock option and employee stock purchase plans | | 10,867 | | | — | | | 74 | | | — | | | — | | | 74 | Stock-based compensation | | — | | | — | | | 1,275 | | | — | | | — | | | 1,275 | Unrealized loss on marketable securities | | — | | | — | | | — | | | (2) | | | — | | | (2) | Net loss | | — | | | — | | | — | | | — | | | (16,538) | | | (16,538) | Consolidated balance at March 31, 2021 | | 39,614,638 | | $ | 40 | | $ | 1,281,173 | | $ | 2,587 | | $ | (1,089,634) | | $ | 194,166 | Shares issued under stock option and employee stock purchase plans | | 2,058 | | | — | | | (25) | | | — | | | — | | | (25) | Stock-based compensation | | — | | | — | | | 1,509 | | | — | | | — | | | 1,509 | Unrealized gain on marketable securities | | — | | | — | | | — | | | 5 | | | — | | | 5 | Net loss | | — | | | — | | | — | | | — | | | (13,373) | | | (13,373) | Consolidated balance at June 30, 2021 | | 39,616,696 | | | 40 | | | 1,282,657 | | | 2,592 | | | (1,103,007) | | | 182,282 |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | Accumulated | | | | | | | | | Common | | Common | | Additional | | Other | | | | | Total | | | Stock | | Stock Par | | Paid-In | | Comprehensive | | Accumulated | | Stockholders’ | | | Shares | | Value | | Capital | | Income | | Deficit | | Equity | | | | (In thousands, except share amounts) | Consolidated balance at December 31, 2019 | | 16,972,077 | | $ | 17 | | $ | 1,104,706 | | $ | 2,619 | | $ | (1,013,316) | | $ | 94,026 | Shares issued under stock option and employee stock purchase plans | | 12,573 | | | — | | | 24 | | | — | | | — | | | 24 | Shares issued in connection with at the market agreement | | 746,152 | | | 1 | | | 1,613 | | | — | | | — | | | 1,614 | Stock-based compensation | | — | | | — | | | 686 | | | — | | | — | | | 686 | Unrealized loss on marketable securities | | — | | | — | | | — | | | (22) | | | — | | | (22) | Net loss | | — | | | — | | | — | | | — | | | (12,625) | | | (12,625) | Consolidated balance at March 31, 2020 | | 17,730,802 | | $ | 18 | | $ | 1,107,029 | | $ | 2,597 | | $ | (1,025,941) | | $ | 83,703 | Shares issued in connection with at the market agreement | | 5,978,452 | | | 6 | | | 23,686 | | | — | | | — | | | 23,692 | Shares issued in underwritten offering | | 15,384,614 | | | 15 | | | 141,346 | | | — | | | — | | | 141,361 | Stock-based compensation | | — | | | — | | | 722 | | | — | | | — | | | 722 | Unrealized loss on marketable securities | | — | | | — | | | — | | | (3) | | | — | | | (3) | Net loss | | — | | | — | | | — | | | — | | | (11,031) | | | (11,031) | Consolidated balance at June 30, 2020 | | 39,093,868 | | | 39 | | | 1,272,783 | | | 2,594 | | | (1,036,972) | | | 238,444 |
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