Subsequent Events

3 Months Ended

Mar. 31, 2015

Subsequent Events

Subsequent Events

(10) Subsequent Events

Public Offering

In April 2015, the Company raised approximately $44.3 million in gross proceeds from the sale of an aggregate 25,300,000 shares of its common stock in a public offering at a public offering price of $1.75 per share, including 3,300,000 shares upon the full exercise of the underwriters’ option to purchase additional shares. Certain of the Company’s directors and their affiliates, including its largest stockholder, purchased an aggregate of 7,257,142 shares in this offering at the public offering price. The net offering proceeds to the Company were approximately $41.8 million after deducting underwriters’ discounts, fees and commissions, and other offering expenses payable by the Company.