Stockholders’ Equity

Common stock

As of December 31, 2018, the Company had reserved 7,486,096 shares of common stock for issuance under its stock plans and 474,462 shares of common stock for issuance under its employee stock purchase plan.

Resale Registration Statement

In December 2014, the Company entered into a Commitment to File a Registration Statement and Related Waiver of Registration Rights, whereby Rusnano waived certain registration rights in connection with a potential offering by the Company of shares of the Company’s common stock, and the Company committed to file with the U.S. Securities and Exchange Commission a resale registration statement on Form S-1 covering the resale of all shares of the Company’s common stock held by Rusnano. In each of 2015 and 2016, the Company filed such resale registration statement, which registered 4,972,905 shares of the Company’s common stock, at a par value of $0.0025 per share, held by Rusnano. The Company does not receive any proceeds from any sales of the Company’s common stock held by Rusnano (See Note 14).

Follow-On Public Offering

In 2015, the Company completed a follow-on public offering, in which the Company sold 6,866,689 shares of its common stock, including 895,655 shares of common stock sold upon the exercise in full of the overallotment option by the underwriters, at a public offering price of $7.25 per share. The Company raised approximately $45.6 million, net of underwriting discounts of $3.0 million and other offering expenses of approximately $1.2 million.

Accumulated Other Comprehensive Income (Loss)

The following table shows the components of accumulated other comprehensive income (loss), net of taxes, as of December 31, 2018 and 2017 (in thousands):



	December 31, 2018			December 31, 2017
Foreign currency translation adjustments	$	(6,897	)	$	567
Unrealized loss on available-for-sale securities	—			(1		)
Defined benefit pension plan adjustment	(229		)	(168		)
	$	(7,126	)	$	398

No material amounts related to available-for-sale securities or the defined benefit pension plan were reclassified out of accumulated other comprehensive income (loss) during the years ended December 31, 2018, 2017 or 2016.

Accumulated Deficit

Approximately $9.0 million and $8.8 million of the Company’s retained earnings within its accumulated deficit at December 31, 2018 and 2017, respectively, was subject to restriction due to a requirement that its subsidiaries in China set aside at least 10% of their respective accumulated profits each year to fund statutory common reserves as well as allocate a discretional portion of their after-tax profits to their staff welfare and bonus fund.