7. Capital Stock

As of March 31, 2020 and December 31, 2019, the Company has 5,000,000 preferred shares authorized with a par value of $0.0001 and no preferred shares issued and outstanding. As of March 31, 2020 and December 31, 2019, the Company has 500,000,000 common shares authorized and 24,239,861 and 23,468,750 common shares issued and outstanding, respectively, with a par value of $0.0001. Additional paid in capital is $216.3 million as of March 31, 2020 and $180.0 million as of December 31, 2019.

On March 15, 2019, the Company effected a 17,000,000 for one forward stock split in conjunction with domestication in the United States. All share and per share information included in the condensed consolidated financial statements and notes to the condensed consolidated financial statements have been retroactively adjusted to reflect the stock split for the Company’s common stock for all periods presented.

On April 22, 2019, the Company completed its IPO with the sale of 6,468,750 shares of common stock at a price to the public of $15.00 per share, including 843,750 shares sold upon the exercise in full of the underwriter’s option to purchase additional shares. After underwriter discounts and commissions and offering expenses, net proceeds from the IPO were approximately $87.4 million.

On January 9, 2020, the Company completed a secondary offering in which the Company sold 750,000 shares of stock to the public at a price of $49.00 per share (along with 5,000,000 shares sold by existing shareholders). The Company received net proceeds of approximately $35.5 million, after deducting underwriting discounts and commissions and offering costs.

Common stock reserved for future issuance consists of the following as of March 31, 2020:


Stock options outstanding under 2019 Equity Incentive Plan	1,052,095
Restricted stock units outstanding under 2019 Equity Incentive Plan	6,191
Shares authorized for future issuance under 2019 Equity Incentive Plan	2,045,776
Shares authorized for future issuance under 2019 Employee Stock Purchase Plan	458,889
Total	3,562,951