Options and Warrants
As of December 12, 2017, options to purchase 2,370,886 shares of our common stock were outstanding under our 2012 Stock Incentive Plan, our Amended and Restated 2014 Equity and Incentive Plan and in
connection with September 2016, January 2017 and June 2017 inducement awards, at a weighted average exercise price of $1.22 per share. In addition, we have issued 9,478 restricted stock units under the 2014 Equity and Incentive Plan as of December
12, 2017.
As of December 12, 2017, we had outstanding warrants, held by Hercules, to purchase 31,674 shares of the Companys common
stock at an exercise price of $8.84 and 40,705 shares of the Companys common stock at an exercise price of $7.37 per share. These warrants are exercisable by Hercules at any time, in whole or in part, until January 30, 2020 and June 30, 2020,
respectively. The exercise prices are subject to proportional adjustment upon the subdivision or combination of shares of the common stock, or an appropriate adjustment by the board at the time of a merger event, as defined in the applicable warrant
agreement, or a reclassification of shares (by combination, reclassification, exchange or subdivision of securities or otherwise).
In August
2016, we completed a private placement to certain investors of 4,800,000 shares of our common stock and Series A and Series B warrants to purchase an aggregate of 9,600,000 shares of common stock. The Series A warrants are no longer exercisable as
of August 2017. As of December 12, 2017, we had outstanding Series B warrants to purchase 3,918,175 shares of our common stock at an exercise price of $1.55 per share. The exercise price is subject to proportional adjustment upon the subdivision or
combination of shares of the common stock (by any stock split, stock dividend, recapitalization, reverse stock split, or otherwise), but the exercise price cannot be reduced below the par value of the common stock. The Series B warrants are
exercisable at any time, in whole or in part, until August 19, 2021.
Registration Rights
On October 20, 2017, we entered into the registration rights agreement with LPC pursuant to which we agreed to file with the SEC one or more
registration statements as necessary to register for sale under the Securities Act shares of common stock that we issued or may issue to LPC under the LPC Purchase Agreement. We registered 7,842,096 shares of common stock for resale pursuant to
a registration statement on Form S-1 on November 13, 2017 and which was declared effective on November 21, 2017.
In August 2016, we entered
into a securities purchase agreement, or the Securities Purchase Agreement, in connection with a private placement, pursuant to which we granted certain investors certain registration rights with respect to the shares purchased as well as the shares
issuable upon exercise of the warrants. In particular, the Securities Purchase Agreement required us to file a registration statement with the SEC to register the sale of such shares within 30 days of the consummation of the private placement and to
maintain continuous effectiveness of the registration statement. A registration statement relating to such shares was filed on September 9, 2016 and declared effective by the SEC on September 23, 2016.
On June 23, 2015, we issued a warrant, or the Warrant, to Hercules to purchase 40,705 shares of the Companys common stock at an exercise price
of $7.37 per share. Pursuant to the Warrant, we agreed, among other things, that we would file with the SEC a registration statement to register the sale of the shares issuable upon exercise of the Warrant within 30 days of the Company becoming
eligible to use a Form S-3 registration statement to register such shares. A registration statement relating to such shares was filed on September 9, 2016 and declared effective by the SEC on September 23, 2016.
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