Subsequent events

3 Months Ended

Mar. 31, 2020

Subsequent Events [Abstract]

Subsequent events

Subsequent events

On April 13, 2020, the Company’s 2010 Equity Incentive Plan (the “2010 Plan”) terminated in accordance with its terms. On April 14, 2020, the Company’s Board of Directors approved a 2020 Equity Incentive Plan (the “2020 Plan”), to establish a new equity plan and share reserve for the grant of stock options, restricted stock unit awards and other awards. The 2020 Plan is subject to its approval by the Company’s stockholders and is included as a proposal at the Company’s annual meeting of stockholders scheduled for June 2, 2020. In connection with the approval of the 2020 Plan, the Board of Directors also terminated the Company’s 2011 Inducement Award Plan (the “Inducement Plan”).

If the 2020 Plan is approved by the Company’s stockholders, the aggregate number of shares of its common stock that may be issued under the 2020 Plan will not exceed the sum of (i) 2,121,414 shares and (ii) certain shares subject to outstanding awards granted under the 2010 Plan or the Inducement Plan that may become available for issuance under the 2020 Plan, as such shares become available from time to time. No additional awards may be granted under the 2010 Plan or the Inducement Plan.