Common Stock

12 Months Ended

Dec. 31, 2015

Common stock Abstract

Stockholders' Equity Note Disclosure [Text Block]

9. Common Stock

As of December 31, 2015 and 2014, the Company had authorized 120,000,000 and 65,000,000  shares of Common Stock, respectively at $0.001 par value per share.

General

The voting, dividend and liquidation rights of the holders of the Common Stock are subject to and qualified by the rights, powers and preferences of the holders of Preferred Stock. The Common Stock has the following characteristics:

Voting

The holders of shares of Common Stock are entitled to one vote for each share of Common Stock held at all meetings of stockholders and written actions in lieu of meetings.

Dividends

The holders of shares of Common Stock are entitled to receive dividends, if and when declared by the Board of Directors. Cash dividends may not be declared or paid to holders of shares of Common Stock until all accrued unpaid dividends on Series A Preferred Stock and Series B Preferred Stock have been paid in accordance with their terms. No dividends have been declared or paid by the Company since its inception.

Liquidation

After payment to of their respective liquidation preferences to the holders of shares of Series A Preferred Stock and Series B Preferred Stock, the holders of shares of Common Stock are entitled to share ratably in the Company’s remaining assets available for distribution to its stockholders in the event of any voluntary or involuntary liquidation, dissolution or winding up of the Company or upon occurrence of a deemed liquidation event.

Shares Reserved For Future Issuance

	As of December 31,
	2015	2014
Shares reserved for Series A Preferred Stock outstanding	—	5,882,352
Shares reserved for future issuances of Series A Preferred Stock	—	4,705,883
Shares reserved for vesting of restricted stock awards under the Founder Agreements	853,680	1,068,383
Shares reserved for vesting of restricted stock awards under the 2014 Option and Stock Plan	964,581	1,510,434
Shares reserved for exercise of stock options	1,022,617	291,052
Shares reserved for issuances under the 2015 Stock Option Plan	1,620,479	—
Shares reserved for employee stock purchase plan	262,362	—
	4,723,719	13,458,104