Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity

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Stockholders' Equity
9 Months Ended
Sep. 30, 2014
Equity [Abstract]  
Stockholders' Equity

8. Stockholders’ Equity

Upon the closing in the 2013 financing on September 30, 2013, all of the outstanding shares of redeemable convertible preferred stock of the Company were converted into 2,793,281 shares of common stock, and the related carrying value of $320.0 million was reclassified to additional paid-in capital. As of September 30, 2014, no shares of redeemable convertible preferred stock were issued or outstanding.

The Company is authorized to issue 100,000,000 shares of common stock with a par value of $0.0001 per share as of September 30, 2014.

On September 30, 2013, the Company sold 5,366,669 shares of common stock and 1,073,338 warrants to purchase shares of common stock in the 2013 financing for net proceeds to the Company of $22.8 million after deducting placement agent fees and estimated offering expenses. Also on that date, the Company issued 624,944 shares of common stock in cancellation of approximately $16.9 million of debt owed to JJDC, the holder of that debt (Note 6). On October 31, 2013, the Company sold an additional 664,300 shares of common stock and warrants to purchase 132,860 shares of common stock, which sales were also part of the 2013 financing, for net proceeds to CymaBay of $2.2 million after deducting placement agent fees and estimated offering expenses. On November 22, 2013, the Company entered into an agreement with investors to purchase 604,000 shares of common stock and 120,800 warrants to purchase shares of common stock as part of the 2013 financing for net proceeds of $2.7 million, which sales occurred on January 2014.

On July 25, 2014, the Company completed a public offering of 4.6 million shares of its common stock at $5.50 per share. Net proceeds to the Company in connection with the 2014 public offering were approximately $23.0 million after deducting underwriting discounts, commissions and offering expenses.

As of September 30, 2014 and December 31, 2013, the Company had reserved shares of authorized but unissued common stock as follows:

 

     September 30,      December 31,  
     2014      2013  
     (unaudited)         

Common stock warrants

     1,787,617         1,742,727   

Equity incentive plans

     1,549,716         577,294   
  

 

 

    

 

 

 

Total reserved shares of common stock

     3,337,333         2,320,021