35 unchanged sentences
232,335 shares reserved for issuance under the 2018 ESPP.
−Removed: As of March 2, 2020, assuming each participant purchases the maximum number of shares in the current offering period, no more than 61,000 shares are subject to purchase in the current offering, which ends on May 14, 2020.
+Added: As of February 22, 2021, assuming each participant purchases the maximum number of shares in the current offering period, no more than 51,000 shares are subject to purchase in the current offering, which ends on May 14, 2021.
This number includes 791,028 shares subject to outstanding awards granted under the 2017 Inducement Award Plan (2017 Inducement Plan), of which 779,778 were subject to outstanding stock options and 11,250 were subject to outstanding RSUs;
500,000 shares subject to stock options granted under the 2019 Inducement Award Plan (2019 Inducement Plan).
−Removed: 15,296 shares subject to warrants granted to one consultant.
This number includes:
11 unchanged sentences
An “Award” is any right to receive our common stock pursuant to the Inducement Plan, consisting of nonstatutory stock options, stock appreciation rights, restricted stock awards, RSUs, or any other stock award.
−Removed: Shelf Registrations
−Removed: On December 30, 2015, we filed a registration statement on Form S-3 with the SEC using a “shelf” registration process, file number 333-208806, which became effective January 19, 2016 (2016 Registration Statement).
−Removed: Under this shelf registration process, we may from time to time sell any combination of the securities described in the 2016 Registration Statement in one or more offerings for an aggregate offering price of up to $150.0 million.
−Removed: The amount to be registered under the shelf registration consisted of up to $150.0 million of an indeterminate amount of common stock, preferred stock, debt securities, warrants and/or units.
−Removed: There was also registered under the shelf registration an indeterminate number of (i) shares of common stock or other securities of ours as may be issued upon conversion of, or in exchange for, convertible or exchangeable debt securities and/or preferred stock registered under the registration statement, or (ii) shares of preferred stock, common stock, debt securities or units as may be issued upon exercise of warrants registered by the 2016 Registration Statement, as the case may be.
−Removed: On December 29, 2017, we filed a registration statement on Form S-3 with the SEC using a “shelf” registration process, file number 333-222366, which became effective January 10, 2018 (2018 Registration Statement).
−Removed: Under this shelf registration process, we could from time to time sell any combination of the securities described in the registration statement in one or more offerings for an aggregate offering price of up to $250.0 million.
−Removed: The amount to be registered under the shelf registration consists of up to $250.0 million of an indeterminate amount of common stock, preferred stock, debt securities, warrants and/or units.
−Removed: There is also being registered under the shelf registration a currently indeterminate number of (i) shares of common stock or other securities of ours as may be issued upon conversion of, or in exchange for, convertible or exchangeable debt securities and/or preferred stock registered under the registration statement, or (ii) shares of preferred stock, common stock, debt securities or units as may be issued upon exercise of warrants registered by the 2018 Registration Statement, as the case may be.
−Removed: In connection with the filing of the 2018 Registration Statement, we entered into a sales agreement under which we may offer and sell shares of our common stock having an aggregate offering price of up to $75.0 million under this registration statement through “at the market offerings.”
−Removed: On November 6, 2017, we closed an offering of common stock with an aggregate offering price of approximately $69.3 million under the 2016 Registration Statement.
−Removed: On July 13, 2018, we closed an offering of common stock with an aggregate offering price of $165.6 million under both the 2016 Registration Statement and the 2018 Registration Statement.
−Removed: On December 16, 2019, we closed an offering of a combination of common stock and pre-funded warrants with an aggregate offering price of approximately $143.7 million under the 2018 Registration Statement.
−Removed: As a result of these offerings, no securities remain available under the 2016 Registration Statement and securities with an aggregate offering price of approximately $21.4 million remain available under the 2018 Registration Statement.
Recent Sales of Unregistered Securities
13 unchanged sentences
Loss from operations
−Removed: Interest income
−Removed: Realized gain (loss) from marketable securities
+Added: Interest and other income, net
Loss before income taxes
1 unchanged sentence
Unrealized gain/loss on marketable securities, net of tax
−Removed: Loss per Shares Data:
−Removed: Basic and dilutive loss per share data
−Removed: The decrease in total assets from approximately $133.7 million as of December 31, 2015 to approximately $98.1 million as of December 31, 2016 is primarily due to cash used in operations.
−Removed: The increase in total assets from approximately $98.1 million as of December 31, 2016 to approximately $169.3 million as of December 31, 2017 was primarily due to a capital raise of $64.8 million in net proceeds in November 2017 and receipt from Allergan of an upfront payment of $50.0 million in February 2017.
−Removed: The increase in total assets from approximately $169.3 million as of December 31, 2017 to approximately $268.0 million as of December 31, 2018 was primarily due to a capital raise of approximately $155.4 million in net proceeds to us in July 2018.
−Removed: The increase in total assets from approximately $268.0 million as of December 31, 2018 to approximately $339.9 million as of December 31, 2019 is primarily due to a capital raise of $134.7 million in net proceeds in December 2019.
−Removed: Since 2014, our operating expenses have increased primarily due to increases in research and development activities and an increase in our total headcount from 21 to 115 employees.
+Added: Basic and dilutive loss per share
+Added: The increase in total assets from $98.1 million as of December 31, 2016 to $169.3 million as of December 31, 2017 was primarily due to a capital raise of $64.8 million in net proceeds in November 2017 and receipt from Allergan of an upfront payment of $50.0 million in February 2017.
+Added: The increase in total assets from $169.3 million as of December 31, 2017 to $268.0 million as of December 31, 2018 was primarily due to a capital raise of $155.4 million in net proceeds to us in July 2018.
+Added: The increase in total assets from $268.0 million as of December 31, 2018 to $339.9 million as of December 31, 2019 is primarily due to a capital raise of $134.7 million in net proceeds in December 2019.
+Added: The decrease in total assets from $339.9 million as of December 31, 2019 to $283.3 million as of December 31, 2020 is primarily due to cash used in operations.
+Added: Our operating expenses have increased year over year primarily due to increases in research and development activities and an increase in our total headcount.
See Part II, Item 7 “Management’s Discussion and Analysis of Financial Condition and Results of Operations” for a discussion on results of operations and financing activities since 2018.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.