Series C Convertible Preferred Stock Warrant Liability

9 Months Ended

Sep. 30, 2015

Other Liabilities Disclosure [Abstract]

Series C Convertible Preferred Stock Warrant Liability

Series C Convertible Preferred Stock Warrant Liability

In October 2013, in connection with the issuance of our Series C convertible preferred stock, we issued fully exercisable warrants for the purchase of 1,975,532 shares of our Series C convertible preferred stock at an exercise price of $8.175 per share. In July 2014, immediately prior to the closing of the IPO, warrants representing 996,940 shares of common stock were exercised for $8.1 million in cash, and warrants representing 978,592 shares of common stock were automatically net exercised for a total of 311,923 shares of common stock. Upon exercise of the warrants, the convertible preferred stock warrant liability was reclassified to stockholders' equity. For the three and nine months ended September 30, 2014, respectively, we recorded a $127,000 and $4.3 million non-operating loss on our condensed statement of operations related to the change in fair value of the preferred stock warrant liability. As of September 30, 2015 there were no warrants outstanding.