Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity

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Stockholders' Equity
6 Months Ended
Jun. 30, 2018
Equity [Abstract]  
Stockholders' Equity

 

7.

Stockholders’ Equity

Warrants

In 2013, the Company issued warrants exercisable for 1,124,026 shares of Series B preferred stock, at an exercise price of $0.90 per share, to certain existing investors in conjunction with a private placement (the 2013 Warrants) and warrants exercisable for 111,112 shares of Series B preferred stock, at an exercise price of $0.90 per share, to Oxford Finance LLC and Silicon Valley Bank in conjunction with the Company’s entry into a loan and security agreement (the Lender Warrants). Upon completion of the Company’s initial public offering (IPO), the 2013 Warrants and the Lender Warrants became exercisable for 136,236 and 13,468 shares of common stock, respectively, at an exercise price of $7.43 per share. The 2013 Warrants expired on May 30, 2018, and the Lender Warrants will expire on July 3, 2023.

Stock Options

The following table summarizes the Company’s stock option activity under all stock option plans for the six months ended June 30, 2018 (options in thousands):

 

 

 

Total

Options

 

 

Weighted-

Average

Exercise

Price

 

Balance at December 31, 2017

 

 

4,826

 

 

$

5.05

 

Granted

 

 

901

 

 

 

5.14

 

Exercised

 

 

(95

)

 

 

1.09

 

Forfeited/cancelled/expired

 

 

(104

)

 

 

4.44

 

Balance at June 30, 2018

 

 

5,528

 

 

$

5.15

 

 

Stock-Based Compensation

The Company recorded stock-based compensation of $0.9 million and $0.8 million for the three months ended June 30, 2018 and 2017, respectively, and $1.9 million and $2.1 million for the six months ended June 30, 2018 and 2017, respectively.  

Common Stock Reserved for Future Issuance

The following shares of common stock were reserved for future issuance at June 30, 2018 (in thousands):

 

Warrants to purchase common stock

 

 

13

 

Common stock options issued and outstanding

 

 

5,528

 

Common stock authorized for future option grants

 

 

818

 

Common stock authorized for the ESPP

 

 

516

 

Shares issuable upon conversion of convertible note payable

 

 

2,846

 

Total

 

 

9,721