Common Stock

6 Months Ended

Jun. 30, 2020

The Company’s common stockholders are entitled to dividends if and when declared by the Company’s Board of Directors (the “Board of Directors”). As of June 30, 2020 and December 31, 2019, no dividends on common stock had been declared by the Board of Directors.

The Company’s common stock has been reserved for the following potential future issuances:


	June 30, 2020	December 31, 2019
	(unaudited)
Shares underlying outstanding stock options	3,869,002	4,494,889
Shares underlying unvested restricted stock units	564,008	496,131
Shares available for issuance under the 2018 Incentive Award Plan	2,864,528	2,726,225
Shares available for issuance under the 2018 Employee Stock Purchase Plan	1,574,367	689,917
Total	8,871,905	8,407,162

Follow-on Public Offering

In June 2020, the Company completed an underwritten public offering, in which it issued and sold 4,312,500 shares of its common stock at a price of $84.00 per share. The Company received net proceeds of $354.6 million after deducting underwriting discounts and commissions and offering expenses payable by the Company.

In May 2019, the Company completed an underwritten public offering, in which it issued and sold 5,175,000 shares of its common stock at a price of $71.00 per share. The Company received net proceeds of $349.7 million after deducting underwriting discounts and commissions and offering expenses payable by the Company.