15.	STOCKHOLDERS’ EQUITY

Common Stock

As of December 31, 2017 and 2016, 250 million common shares, par value $0.001, were authorized by the Company’s Board of Directors. The common shares are entitled to one vote per share and to receive dividends as declared.

On June 14, 2017, the Company completed an IPO of its common stock (refer to Note 1—Company and Nature of Business for additional information). During 2017, the Company issued 6,900,000 shares of common stock at $11.00 per share in connection with the IPO, 8,522,728 shares of common stock from the conversion of the convertible bonds into common stock, 568,182 shares of common stock upon the IPO in connection with a licensing agreement, 738,764 shares from the exercise of warrants and stock options, and 821,982 shares from the vesting of restricted stock and the grant of shares in connection with an executive’s employment agreement for cumulative increase to equity of $186.2 million.

During 2016, the Company issued 1,133,332 shares of common stock at $7.50 per share, 315,810 shares at $9.00 per share, 513,440 shares from the exercise of warrants and stock options, and 50,000 shares from the vesting of restricted stock units for a cumulative increase to equity of $19.9 million. During 2015, the Company issued 2,400,000 shares of common stock at $5.00 per share, 3,399,232 shares at $5.50 per share, 307,689 shares at $6.50 per share, 8,845,132 shares at $7.50 per share, 1,699,267 shares at $9.00 per share, and 29,760 shares from the exercise of stock options for a cumulative increase to equity of $114.3 million.

Treasury Stock

During 2017, the Company purchased 16,000 shares of common stock for de minimis amounts as the result of the cancellation of shares issued in connection with a restricted stock agreement. During 2016, the Company purchased 1,234,592 shares of common stock at a cost of $5.9 million. No treasury stock was purchased during 2015.

Cost of Equity Raise

Costs incurred in raising equity, whether paid with cash or through the issuance of common stock, are charged against the equity raised. These costs include underwriting discounts and commissions, legal fees, accounting services and amounts paid to consultants and amounted to $11.7 million, cumulatively, as of the IPO date, of these costs $1.8 million were deferred and included within other long-term assets on the consolidated balance sheet as of December 31, 2016. The total amount of $11.7 million was charged against the equity raised through the IPO. During the fourth quarter of 2017, the Company incurred $0.2 million of qualified issuance costs related to a secondary public offering of its common stock. Such amount was deferred and included within other long-term assets on the consolidated balance sheet as of December 31, 2017. Refer to Note 22 – Subsequent Events for further details of the secondary public offering.

Common Stock Option Plans

The Company has three common stock option plans adopted in 2013, 2007 and 2004 (the “Plans”) which authorize the grant of up to 11,800,000 common stock options to employees, directors and consultants. Additionally, on June 14, 2017, the Company adopted its 2017 Omnibus Incentive Plan and 2017 Employee Stock Purchase Plan (the “2017 Plans”). Under the 2017 Plans, 5,200,000 shares of common stock are reserved for future issuance to employees, directors, and consultants, including 1,000,000 reserved for an Employee Stock Purchase Plan, which was established at IPO but no shares have as yet been issued.