Common Stock

12 Months Ended

Dec. 31, 2013

Equity [Abstract]

Common Stock

8. Common Stock

In connection with the IPO, the Company’s Board of Directors and stockholders approved a 1-for-2.75 reverse stock split of the Company’s common stock. The reverse stock split became effective on July 11, 2013. All share and per share amounts in the consolidated financial statements have been retroactively adjusted for all periods presented to give effect to this reverse stock split, including reclassifying an amount equal to the reduction in par value of common stock to additional paid-in capital. The Company’s Common Stock has the following characteristics:

Voting

The Holders of shares of Common Stock are entitled to one vote for each share of Common Stock held at all meetings of stockholders and written actions in lieu of meetings.

Dividends

The holders of shares of Common Stock are entitled to receive dividends, if and when declared by the Board of Directors and are subject to any preferential dividend or other right of any then outstanding Preferred Stock. No dividends have been declared or paid since the Company’s inception.

Liquidation

The holders of shares of Common Stock are entitled to share ratably in the Company’s assets available for distribution to stockholders, in the event of any voluntary or involuntary liquidation, subject to any preferential or other rights of any then outstanding Preferred Stock.

Shares Reserved for Future Issuance

The Company has reserved for future issuance the following number of shares of Common Stock as of December 31, 2013 and 2012:

	December 31,
	2013		2012
Conversion of Preferred Stock		-		-
Conversion of Series A Preferred Stock		-		12,068,682
Conversion of Series B Preferred Stock		-		1,887,473
Conversion of Series C Preferred Stock		-		5,775,409
Options to purchase Common Stock		5,988,732		5,079,642
		5,988,732		24,811,206