Shareholders’ Equity

9 Months Ended

Sep. 30, 2016

Equity [Abstract]

Shareholders' Equity

6. Shareholders’ Equity

During the three months ended September 30, 2016, the Company sold 1,233 shares of its common stock in an underwritten public offering, plus an additional 185 shares in full exercise of the underwriters’ option to purchase additional shares of common stock, at the price to the public of $30.00 per share. The Company received $39,953 of cash proceeds, net of discount of $2,447 and underwriter fees of $150, from the offering, and paid $253 in stock issuance costs.

During the three months ended September 30, 2015, the Company sold 342 shares of its common stock under an Equity Distribution Agreement with Wells Fargo, LLC, as a sales agent, at a weighted average price of $38.83. The Company received $12,978 of cash proceeds, net of sales commissions of $299, and paid $82 in stock issuance costs. As of December 31, 2015, there were no shares remaining to be sold under the Equity Distribution Agreement.