Capital Stock

Exercise of Options

For the nine months ended September 30, 2018 and 2017, 729,596 and 63,509 shares, respectively, were exercised at a weighted-average exercise price of $5.92 and $2.76 per share, respectively, with net cash proceeds of $4.3 million and $0.2 million, respectively.

Public Offering

In April 2018, we completed an underwritten public offering of 4,312,500 shares of our common stock, including the exercise in full by the underwriters of their option to purchase 562,500 of our shares, at a public offering price of $9.25 per share. After deducting the underwriting discounts and commissions and estimated offering expenses, net proceeds were approximately $37.3 million.

Unaudited consolidated statements of stockholders' equity as of September 30, 2018 and 2017 are as follows (in thousands):



	Common Stock				Additional paid-in Capital			Accumulated Other Comprehensive Income (Loss)			Accumulated Deficit			Total Stockholders' Equity
	Shares		Amount		Additional paid-in Capital			Accumulated Other Comprehensive Income (Loss)			Accumulated Deficit			Total Stockholders' Equity
Balance at December 31, 2016	41,255		$	4	$	311,164		$	—		$	(292,069	)	$	19,099
Exercise of stock options	64		—		175			—			—			175
Release of stock awards	1,096		—		—			—			—			—
Employee stock-based compensation	—		—		5,212			—			—			5,212
Net shares settlements for taxes	(397	)	—		(1,670		)	—			—			(1,670		)
Issuance of common stock, net of issuance costs of $553	6,325		1		23,229			—			—			23,230
Total comprehensive loss	—		—		—			13			(23,966		)	(23,953		)
Balance at September 30, 2017	48,343		$	5	$	338,110		$	13		$	(316,035	)	$	22,093

Balance at December 31, 2017	48,365		$	5	$	340,079		$	(472	)	$	(315,065	)	$	24,547
Exercise of stock options	730		—		4,319			—			—			4,319
Release of stock awards	824		—		—			—			—			—
Employee stock-based compensation	—		—		6,183			—			—			6,183
Non-employee stock-based compensation	—		—		24			—			—			24
Net shares settlements for taxes	(297	)	—		(3,140		)	—			—			(3,140		)
Issuance of common stock, net of issuance costs of $180	4,313		—		37,317			—			—			37,317
ASC 606 Adjustments	—		—		—			—			(4,060		)	(4,060		)
ASU 2016-01 Adjustments	—		—		—			472			(472		)	—
Net loss	—		—		—			—			(10,417		)	(10,417		)
Balance at September 30, 2018	53,935		$	5	$	384,782		$	—		$	(330,014	)	$	54,773