Common Stock

3 Months Ended

Mar. 31, 2019

12.	COMMON STOCK

Common Stock

The Company’s amended and restated certificate of incorporation as of March 31, 2019 authorized the issuance of 200.0 million shares of common stock, $0.01 par value per share, of which 18.2 million were issued and outstanding as of March 31, 2019.

The following table summarizes the total number of shares of the Company’s common stock issued and reserved for issuance as of March 31, 2019 and December 31, 2018 (in thousands):

	March 31, 2019		December 31, 2018
Shares of common stock issued		18,227		17,744
Shares of common stock reserved for issuance for:
Common stock warrants outstanding		105		105
Stock options outstanding		2,670		2,711
Restricted stock units outstanding		43		43
Shares available for grant under stock incentive plan		1,457		1,312
Shares available for sale under employee stock purchase plan		244		244
Total shares of common stock issued and reserved for issuance		22,746		22,159

Each share of common stock entitles the holder to one vote on all matters submitted to a vote of the Company’s stockholders. Holders of common stock are entitled to receive any dividends that the Company’s board of directors may declare out of funds legally available for that purpose on a non-cumulative basis. The Company has never paid, and for the foreseeable future does not expect to pay, a dividend on its common stock.

Immediately prior to the closing of the Company’s IPO on July 2, 2018, all of the Company’s outstanding shares of convertible preferred stock converted into an aggregate of 11.0 million shares of common stock, resulting in the elimination of the Company’s outstanding liquidation preferences.

Common Stock Warrants

The following table summarizes the Company’s outstanding common stock warrants as of March 31, 2019 and December 31, 2018:

Warrants Outstanding (in thousands)		Exercise Price		Expiration Date
	14	$	19.55	Dec-2022
	30	$	9.73	Feb-2021
	20	$	9.73	Aug-2023
	20	$	9.73	Mar-2024
	21	$	9.73	Dec-2024
	105