EQUITY FINANCING

6 Months Ended

Jun. 30, 2014

Equity [Abstract]

EQUITY FINANCING

8. EQUITY FINANCING

On April 29, 2014, the Company sold 2,650,000 shares of common stock at an offering price of $38.00 per share. The Company received aggregate net proceeds of approximately $94.5 million, after deducting the underwriting discounts and offering related transaction costs.

In January 2013, the Company sold approximately 87,000 shares of common stock through its At-The-Market offering that originally commenced in September 2012 (the “2012 ATM”). The sales in January 2013 generated $2.1 million in net proceeds and fully exhausted the sales of stock available under the 2012 ATM sales agreement.