Subsequent Events

9 Months Ended

Sep. 30, 2018

Subsequent Events [Abstract]

Subsequent Events

11. Subsequent Events

On October 8, 2018, the Company’s stockholders approved an amendment to the 2016 Plan, which provided for an increase in the number of shares of common stock reserved for issuance thereunder by 1,759,602 shares, extended the term of the Plan through August 7, 2028 and provided for an automatic increase in the number of shares reserved for issuance thereunder on January 1 of each year for the remaining term of the plan. The automatic increase will be equal to 4% of the number of issued and outstanding shares of common stock on December 31 of the immediately preceding year, or a lesser amount as approved by the board each year.

In October 2018, the Company sold 1,845,820 shares of common stock pursuant to the ATM offering program for net proceeds of $16.4 million under the sales agreement with JonesTrading Institutional Services LLC.