9.	Common Stock

On March 16, 2016, the Company signed a Capital on Demand^TM Sales Agreement with JonesTrading. In accordance with the terms of the sales agreement, the Company may offer and sell shares of its common stock having an aggregate offering price up to $6.5 million, subject to certain limitations, from time to time in one or more public offerings of the Company’s common stock, with JonesTrading acting as agent, in transactions pursuant to a shelf registration statement that was declared effective by the SEC on April 28, 2016.

The Company sold 198,280 shares of common stock in the open market at a weighted-average selling price of $9.55 per share, for net proceeds (net of commissions) of $1.8 million during the three months ended March 31, 2017, in the Capital on Demand^TM program. The Company charged approximately $0.1 million for JonesTrading commission against additional paid-in capital for the three months ended March 31, 2017.