Common Stock

12 Months Ended

Dec. 31, 2019

Text Block [Abstract]

Common Stock

8. Common Stock

As of December 31, 2019 and 2018, the Company authorized 120,000,000 shares of common stock with a par value of $0.0001 per share.

Each share of common stock entitles the holder to one vote on all matters submitted to a vote of the Company’s stockholders. Common stockholders are entitled to receive dividends, as may be declared by the Board of Directors, if any. As of December 31, 2019 and 2018, no dividends have been declared.

As of December 31, 2019, the Company received 3,033 shares of the Company’s common stock from an employee as proceeds for exercises of stock options.  The total cost of shares held in treasury at December 31, 2019 was $0.4 million.