Preferred Stock and Common Stock

Preferred Stock

The Company's amended and restated certificate of incorporation authorizes the Company to issue up to 10,000,000 shares of undesignated preferred stock, $0.001 par value per share, none of which was issued or outstanding as of March 31, 2020 or December 31, 2019.

Common Stock

As of March 31, 2020 and December 31, 2019, the Company’s certificate of incorporation, as amended and restated, authorized the Company to issue 150,000,000 shares of common stock with a par value of $0.001 per share.

Each share of common stock entitles the holder to one vote on all matters submitted to a vote of the Company’s stockholders. Common stockholders are entitled to receive dividends, as may be declared by the Company’s board of directors, if any. No dividends have been declared or paid during the three months ended March 31, 2020 or 2019.

As of March 31, 2020 and December 31, 2019 the Company has reserved for future issuance the following number of shares of common stock:



	March 31, 2020	December 31, 2019
Shares reserved for exercise of outstanding stock options	3,179,605	3,374,541
Shares reserved for vesting of restricted stock units	1,756,059	1,053,394
Shares reserved for future issuance under the 2018 Stock Option and Grant Plan	395,741	—
Shares reserved for future issuance under the 2018 Employee Stock Purchase Plan	777,512	490,215
	6,108,917	4,918,150

At-the-market equity offering program

In July 2019, the Company filed a registration statement on Form S-3 (File No. 333-232487) with the SEC, which was declared effective on July 8, 2019 (the "Shelf Registration Statement") in relation to the registration of common stock, preferred stock, warrants and/or units of any combination thereof for the purposes of selling, from time to time, its common stock, convertible securities or other equity securities in one or more offerings. Simultaneous with the Shelf Registration Statement, the Company entered into a Controlled Equity Offering^SMSales Agreement (the "Sales Agreement") with Cantor Fitzgerald & Co. ("Cantor") to establish an at-the-market equity offering program ("ATM"). Under the Sales Agreement, Cantor may sell up to $50.0 million of the Company’s common stock by any method permitted by law deemed to be an "at the market" offering as defined in Rule 415 of the Securities Act, subject to the terms of the Sales Agreement. Under the Sales Agreement, the Company is required to pay to Cantor cash commissions of 3.0% of the aggregate gross proceeds of sales of common stock under the Sales Agreement.

No shares were sold under the ATM and no proceeds were received by the Company in respect of the ATM during the three months ended March 31, 2020.