Stockholders' Equity	12 Months Ended
Dec. 31, 2019
Stockholders' Equity
Stockholders' Equity	12. Stockholders’ Equity As of December 31, 2019, the Company had 50,000,000 authorized shares of its preferred stock, of which no shares were issued and outstanding; and 750,000,000 authorized shares of its common stock, at $0.0001 par value, and there were 78,004,669 shares of common stock issued and outstanding. In August 2017, the Company paid OrbiMed a fee in consideration of providing the 2017 Term Loan (as defined in Note 9) by issuing 300,000 shares of its common stock. The fair value of the fee was $2.4 million, which was determined based on the Company’s stock price of $8.16 on August 8, 2017. In June 2018, OrbiMed exercised all of its warrants, which were all converted into common stock. The exercise was a cashless transaction, and there were 332,896 of net shares issued to OrbiMed following the exercise at the fair value of $6.8 million. In July 2018, the Company completed an equity offering to sell 4,500,000 shares of its common stock to the public at a price of $20 per share, along with the sale of 675,000 additional shares of its common stock to the underwriters upon their exercise of the option to purchase those shares. Upon the closing of the equity offering, the Company received proceeds of $97.3 million before offering expenses, which totaled approximately $0.5 million. In April 2019, the Company completed an underwritten equity offering to sell 5,263,158 shares of its common stock at a price to the public of $19 per share. On April 26, 2019, the Company sold an additional 789,473 shares of its common stock to the underwriters at the same price upon their exercise of the option to purchase those shares. Before offering expenses of $0.6 million, the Company received proceeds of $108.1 million net of the underwriting discount. In October 2019, the Company completed an underwritten equity offering to sell 5,714,286 shares of its common stock at a price to the public of $35 per share. The same day, the Company sold an additional 857,142 shares of its common stock to the underwriters at the same price upon their exercise of the option to purchase those shares. Before offering expenses of $0.4 million, the Company received proceeds of $216.2 million net of the underwriting discount.

Stockholders' Equity

12 Months Ended

Dec. 31, 2019

12. Stockholders’ Equity

As of December 31, 2019, the Company had 50,000,000 authorized shares of its preferred stock, of which no shares were issued and outstanding; and 750,000,000 authorized shares of its common stock, at $0.0001 par value, and there were 78,004,669 shares of common stock issued and outstanding.

In August 2017, the Company paid OrbiMed a fee in consideration of providing the 2017 Term Loan (as defined in Note 9) by issuing 300,000 shares of its common stock. The fair value of the fee was $2.4 million, which was determined based on the Company’s stock price of $8.16 on August 8, 2017.

In June 2018, OrbiMed exercised all of its warrants, which were all converted into common stock. The exercise was a cashless transaction, and there were 332,896 of net shares issued to OrbiMed following the exercise at the fair value of $6.8 million.

In July 2018, the Company completed an equity offering to sell 4,500,000 shares of its common stock to the public at a price of $20 per share, along with the sale of 675,000 additional shares of its common stock to the underwriters upon their exercise of the option to purchase those shares. Upon the closing of the equity offering, the Company received proceeds of $97.3 million before offering expenses, which totaled approximately $0.5 million.

In April 2019, the Company completed an underwritten equity offering to sell 5,263,158 shares of its common stock at a price to the public of $19 per share. On April 26, 2019, the Company sold an additional 789,473 shares of its common stock to the underwriters at the same price upon their exercise of the option to purchase those shares. Before offering expenses of $0.6 million, the Company received proceeds of $108.1 million net of the underwriting discount.

In October 2019, the Company completed an underwritten equity offering to sell 5,714,286 shares of its common stock at a price to the public of $35 per share. The same day, the Company sold an additional 857,142 shares of its common stock to the underwriters at the same price upon their exercise of the option to purchase those shares. Before offering expenses of $0.4 million, the Company received proceeds of $216.2 million net of the underwriting discount.