13. Subsequent Events

On January 1, 2017, the share reserve of the Company’s 2013 Equity Incentive Plan, or 2013 Plan, automatically increased by 1,172,350 shares. In addition, the Company granted to employees and consultants stock options to purchase 1,016,301 shares of common stock in January 2017.

During January 2017, the Company utilized its ATM facility to offer and sell 124,100 shares of common stock for net proceeds of $158,000 as permitted under the Company’s shelf registration statement on Form S-3 and its related prospectus supplements.

On February 2, 2017, pursuant to the Company’s shelf registration statement on Form S-3, the Company completed the issuance of 5.2 million shares of common stock at $1.93 per share which the Company refers to as the 2017 public offering. Net proceeds to the Company in connection with the 2017 public offering were approximately $9.2 million after deducting underwriting discounts, commissions and other offering expenses.