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Preferred and Common Stock Warrants | 3 Months Ended
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Mar. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Preferred and Common Stock Warrants |
10. | Preferred and Common Stock Warrants
As of March 31, 2019, the Company’s outstanding warrants to purchase shares of common stock consisted of the following:
Issuance Date |  | Number of Shares of Common Stock Issuable |  |  | Exercise Price |  |  | Classification |  |  | Expiration Date |
August 14, 2015 |  |  | 81,228 |  |  | $ | 21.78 |  |  |  | Equity |  |  |  | August 14, 2020 |
August 21, 2015 |  |  | 69,603 |  |  | $ | 21.78 |  |  |  | Equity |  |  |  | August 21, 2020 |
October 25, 2016 |  |  | 5,155 |  |  | $ | 19.78 |  |  |  | Equity |  |  |  | October 24, 2026 |
November 1, 2017 |  |  | 130,609 |  |  | $ | 19.78 |  |  |  | Equity |  |  |  | October 31, 2020 |
November 17, 2017 |  |  | 8,442 |  |  | $ | 19.78 |  |  |  | Equity |  |  |  | November 16, 2020 |
December 4, 2017 |  |  | 5,661 |  |  | $ | 19.78 |  |  |  | Equity |  |  |  | December 3, 2020 |
December 28, 2017 |  |  | 6,925 |  |  | $ | 19.78 |  |  |  | Equity |  |  |  | December 27, 2020 |
December 28, 2017 |  |  | 115,916 |  |  | $ | 19.78 |  |  |  | Equity |  |  |  | December 28, 2027 |
September 12, 2018 |  |  | 25,275 |  |  | $ | 19.78 |  |  |  | Equity |  |  |  | September 12, 2021 |
September 12, 2018 |  |  | 20,220 |  |  | $ | 19.78 |  |  |  | Equity |  |  |  | September 12, 2028 |
October 19, 2018 |  |  | 20,016 |  |  | $ | 19.78 |  |  |  | Equity |  |  |  | October 19, 2028 |
December 11, 2018 |  |  | 5,004 |  |  | $ | 19.80 |  |  |  | Equity |  |  |  | October 19, 2028 |
|  |  | 494,054 |  |  |  |  |  |  |  |  |  |  |  |  |
As of December 31, 2018, the Company’s outstanding warrants to purchase shares of preferred stock (which converted into warrants to purchase common stock upon close of the Merger) consisted of the following (not adjusted for the Reverse Stock Split or Exchange Ratio):
December 31, 2018 |
Warrant Name |  | Issuance Date |  |  | Number of Shares of Preferred Stock Issuable |  |  | Exercise Price |  |  | Exercisable for |  |  | Classification |  |  | Expiration Date |
Series A warrants |  |  | August 14, 2015 |  |  |  | 854,785 |  |  | $ | 2.07 |  |  |  | Series A |  |  |  | Liability |  |  |  | August 14, 2020 |
Series A warrants |  |  | August 21, 2015 |  |  |  | 732,453 |  |  | $ | 2.07 |  |  |  | Series A |  |  |  | Liability |  |  |  | August 21, 2020 |
SVB warrants |  |  | October 25, 2016 |  |  |  | 54,256 |  |  | $ | 1.88 |  |  |  | Series A |  |  |  | Liability |  |  |  | October 24, 2026 |
Series B warrants |  |  | November 1, 2017 |  |  |  | 1,374,435 |  |  | $ | 1.88 |  |  |  | Series B |  |  |  | Liability |  |  |  | October 31, 2020 |
Series B warrants |  |  | November 17, 2017 |  |  |  | 88,845 |  |  | $ | 1.88 |  |  |  | Series B |  |  |  | Liability |  |  |  | November 16, 2020 |
Series B warrants |  |  | December 4, 2017 |  |  |  | 59,576 |  |  | $ | 1.88 |  |  |  | Series B |  |  |  | Liability |  |  |  | December 3, 2020 |
Series B warrants |  |  | December 28, 2017 |  |  |  | 72,875 |  |  | $ | 1.88 |  |  |  | Series B |  |  |  | Liability |  |  |  | December 27, 2020 |
Series B warrants |  |  | December 28, 2017 |  |  |  | 1,219,815 |  |  | $ | 1.88 |  |  |  | Series B |  |  |  | Liability |  |  |  | December 28, 2027 |
Series B warrants |  |  | September 12, 2018 |  |  |  | 265,957 |  |  | $ | 1.88 |  |  |  | Series B |  |  |  | Liability |  |  |  | September 12, 2021 |
Series B warrants |  |  | September 12, 2018 |  |  |  | 212,765 |  |  | $ | 1.88 |  |  |  | Series B |  |  |  | Liability |  |  |  | September 12, 2028 |
Series B warrants |  |  | October 19, 2018 |  |  |  | 210,638 |  |  | $ | 1.88 |  |  |  | Series B |  |  |  | Liability |  |  |  | October 19, 2028 |
|  |  |  |  |  |  | 5,146,400 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Prior to the Merger, the Company classified its preferred stock warrants as a liability on its consolidated balance sheet because the warrants are freestanding financial instruments that may have required the Company to transfer assets upon exercise. The liability associated with each of these warrants was initially recorded at fair value upon the issuance date of each warrant and is subsequently remeasured to fair value as a component of other income (expense), net in the consolidated statement of operations and comprehensive loss. Upon the closing of the Merger with Arsanis (see Note 1), pursuant to the Merger Agreement, all of the outstanding X4 preferred stock was converted to Arsanis common stock and the X4 preferred stock warrants converted to warrants for the purchase of Arsanis common stock. The Company assessed the features of the warrants and determined that they qualify for classification as permanent equity upon the closing of the Merger. Accordingly, the Company remeasured the warrants to fair value upon the closing of the Merger, which was $5,235 at March 13, 2019, with $288 of expense recorded during the three months ended March 31, 2019. Upon the closing of the Merger, the warrant liability was reclassified to additional paid-in capital.

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- Definition The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -URI http://asc.fasb.org/topic&trid=2229140 + Details
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