Subsequent Events

3 Months Ended

Mar. 31, 2017

Subsequent Events [Abstract]

Subsequent Events

12. Subsequent Events

On April 21, 2017, the Company appointed a member of its board of directors as interim chief medical officer (“interim CMO”). Under the employment agreement, the interim CMO will receive a salary of $27,000 per month and an option to purchase 24,000 shares of common stock, subject to a service condition.

On May 1, 2017, the Company filed a shelf registration statement on Form S-3 for the potential offering, issuance and sale by the Company of up to $150 million of common stock, preferred stock, debt securities, warrants to purchase common stock, preferred stock and debt securities, subscription rights to purchase common stock, preferred stock and debt securities, and units consisting of all or some of these securities. The shelf registration statement has not been declared effective by the SEC. Up to $20 million of the maximum aggregate offering price of $150 million under the registration statement, if declared effective by the SEC, may be issued and sold pursuant to an “at-the-market” offering for sales of the Company’s common stock pursuant to a sales agreement between the Company and JonesTrading Institutional Services LLC.