Subsequent Events

6 Months Ended

Jun. 30, 2015

Subsequent Events

Subsequent Events

15. Subsequent Events

Initial Public Offering

In July 2015, the Company completed an IPO of its common stock, and subsequently in August 2015, the Company completed the sale of additional shares upon exercise of the underwriters’ over-allotment option. The warrants to purchase convertible preferred stock became exercisable to purchase common stock. In connection with its IPO, including the over-allotment option, the Company issued and sold 10,900,000shares of its common stock, at a price to the public of $18.00 per share. As a result of the IPO, the Company received approximately $178.5 million in net proceeds, after deducting underwriting discounts and commissions of approximately $13.7 million and offering expenses of approximately $4.0 million payable by the Company. At the closing of the IPO, 31,397,221 shares of outstanding convertible preferred stock were automatically converted into common stock on a one-to-one basis. Following the IPO, there were no shares of preferred stock outstanding. In connection with the IPO, the Company amended and restated its Amended and Restated Certificate of Incorporation to change the authorized capital stock to 750,000,000 shares designated as common stock and 50,000,000 shares designated as preferred stock, all with a par value of $0.0001 per share. As of June 30, 2015, the Company had incurred $4.0 million of deferred offering costs, which will be offset against the net proceeds received from the sale of common stock. The condensed consolidated financial statements, including share and per share amounts, do not give effect to the IPO.