Convertible Preferred Stock and Stockholders’ Equity (Deficit) (Tables)

3 Months Ended

Mar. 31, 2019

Summary of Key Terms of Outstanding Common Stock Warrants

The key terms of the outstanding common stock warrants are summarized in the following table:

	Warrants Outstanding March 31, 2019		Warrants Outstanding December 31, 2018		Exercise Price		Expiration
Related party common stock warrants		—		141,778	$	2.196	May 2025
Common stock warrants issued in connection with the 2018 Loan and Security Agreement		34,440		34,440	$	4.026	February 2028
Common stock warrant issued in connection with conversion of preferred stock warrants upon initial public offering		54,903		—	$	3.096	June 2024
Total common stock warrants		89,343		176,218

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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