June

  the Company entered into a million facility agreement (the “Deerfield Facility Agreement”) with Deerfield Private Design Fund III, LP (“Deerfield”). The payment to the Company under the terms of the Deerfield Facility Agreement consisted of a term loan of million (the “Term Notes”) and a senior secured loan of million (the “Deerfield Convertible Notes”). Deerfield is no longer obligated to provide the Company any additional disbursements under the Deerfield Facility Agreement. All loans issued under the Deerfield Facility Agreement bear interest at  per annum. Deerfield convert any portion of the outstanding principal and any accrued but unpaid interest on the Deerfield Convertible Notes into shares of the Company’s common stock at an initial conversion price of per share.  

14,423,076

Series D Preferred”) at an exercise price of per share, which is exercisable until   (the “Deerfield Warrant”). Upon completion of the IPO, the Deerfield Warrant automatically converted into a warrant to purchase shares of the Company’s common stock at an exercise price of per share. This warrant qualifies as a participating security under ASC Topic and is treated as such in the earnings per share calculation (Note I). In the event that a Major Transaction occurs, as defined below, Deerfield require the Company to redeem the Deerfield Warrant for a cash amount equal to the Black-Scholes value of the portion of the Deerfield Warrant to be redeemed (the “Put Option”). A Major Transaction is (i) a consolidation, merger, exchange of shares, recapitalization, reorganization, business combination or other similar event; (ii) the sale or transfer in transaction or a series of related transactions of all or substantially all of the assets of the Company; (iii) a -party purchase, or exchange offer made to the holders of outstanding shares, such that following such purchase, or exchange offer a change of control has occurred; (iv) the liquidation, bankruptcy, insolvency, dissolution or winding-up affecting the Company; (v) the shares of the Company’s common stock cease to be listed on any eligible market; and (vi) at any time, the shares of the Company’s common stock cease to be registered under Section  of the Securities Exchange Act of as amended (the “Exchange Act”).

1,923,077

256,

shares of the Company’s common stock. The Company recorded the fair value of the shares of Series D Preferred of million, to debt issuance costs on the date of issuance. The Company recorded the fair value of the Deerfield Warrant and the embedded Put Option to debt discount on the date of issuance. The debt issuance costs and debt discount are amortized over the term of the related debt and the expense is recorded as interest expense in the statements of operations.

ility Agreement, the Company  not enter into specified transactions, including a debt financing in the aggregate value of or more, a merger, an asset sale or any other change of control transaction or any joint venture, partnership or other profit sharing arrangement, without the prior approval of Deerfield. Additionally, if the Company were to enter into a major transaction, including a merger, consolidation, sale of substantially all of its assets or other change of control transaction, Deerfield would have the ability to demand that prior to consummation of such transaction the Company repay all outstanding principal and accrued interest of any notes issued under the Deerfield Facility Agreement.

 must repay - of the outstanding principal amount of all debt issued under the Deerfield Facility Agreement on the and anniversaries of the Deerfield Facility Agreement. The Company is then also obligated to repay the balance of the outstanding principal amount on   The Company prepaid all outstanding interest and principal on the Term Notes in  

cility Agreement is due quarterly in arrears. Upon notice to Deerfield, the Company choose to have or more of the of such scheduled interest payments added to the outstanding principal amount of the debt issued under the Deerfield Facility Agreement, provided that all such interest was due on   The Company elected this option on all  of the scheduled interest payments through The accrued interest added to outstanding principal, was paid to Deerfield on This accrued interest added to outstanding principal, is reflected as a cash outflow from financing activities in the statement of cash flows.

January

6,

2016,

.

February

9,

2016,

$86.25

5.50%

2021

Notes”) to Cowen and Company, LLC and RBC Capital Markets, LLC., as representatives of the several initial purchasers (the “Initial Purchasers”), who subsequently resold the Notes to qualified institutional buyers (the “Note Offering”) in reliance on the exemption from registration provided by Rule under the Securities Act of as amended (the “Securities Act”).

$82.8

’ discount and estimated offering expenses. Concurrent with the Note Offering, the Company used approximately million of the net proceeds from the Note Offering to repay in full the Term Notes, plus all accrued but unpaid interest, a make-whole interest payment and a prepayment premium on the Term Notes. This principal, accrued but unpaid interest, make-whole interest payment and prepayment premium on the Term Notes is reflected as a cash outflow from financing activities in the statement of cash flows.  

2021

February

  (the “Indenture”), between the Company and U.S. Bank National Association, as trustee. Interest on the Notes is payable semi-annually in cash in arrears on   and   of each year, beginning on   at a rate of  per year. The Notes mature on   unless earlier converted or repurchased. The Notes are not redeemable prior to the maturity date, and no sinking fund is provided for the Notes.

2021

58.4454

’s common stock per principal amount of the Notes, subject to adjustment under the Indenture, which is equal to an initial conversion price of approximately per share of common stock. Upon conversion, the Notes will be settled in shares of the Company’s common stock, together with a cash payment in lieu of delivering any fractional share. The conversion rate will be subject to adjustment in some events but will not be adjusted for any accrued and unpaid interest. In addition, following certain corporate events that occur prior to the maturity date, the Company will increase the conversion rate for a holder who elects to convert its Notes in connection with such a corporate event in certain circumstances.

fundamental change” (as defined in the Indenture), holders require that the Company repurchase for cash all or any portion of their Notes at a fundamental change repurchase price equal to of the principal amount of the Notes to be repurchased, plus accrued and unpaid interest to, but excluding, the fundamental change repurchase date. In addition, holders who convert their Notes on or after the date that is year after the last date of original issuance of the Notes also be entitled to receive, under certain circumstances, an interest make-whole payment payable in shares of the Company’s common stock. The Company is bifurcating the fundamental change and make-whole interest payment provisions as embedded derivatives and marking them to fair value each reporting period (Note L).

2021

may

February

the Company entered into a Third Amendment (the “Third Amendment”) to the Deerfield Facility Agreement, Deerfield Convertible Notes and Deerfield Warrant with Deerfield. The Third Amendment, among other things, eliminated the Company’s ability to require Deerfield to convert the Deerfield Convertible Notes into Company common stock.  In addition, pursuant to the Third Amendment, Deerfield consented to the prepayment of the Term Notes and the issuance of the Notes. Except as modified by the Third Amendment and the Fourth Amendment (as described below), all terms and conditions of the Deerfield Facility Agreement remain in full force and effect.

 ATM Agreement, on the Company entered into a Fourth Amendment (the “Fourth Amendment”) to the Deerfield Convertible Note and the Deerfield Warrant, by and between the Company and Deerfield. The Fourth Amendment, among other things, clarifies the calculation of an anti-dilution adjustment of the conversion price and exercise price of the Deerfield Convertible Note and Deerfield Warrant, respectively, in the event that the Company effects an “at the market offering” as defined in Rule of the Securities Act of its common stock.

second

2016,

 line of credit with a total borrowing capacity of  million with City National Bank of Florida (the "Line of Credit Agreement") to support several irrevocable letters of credit issued by the bank on behalf of the Company. As of the Company had unused letters of credit in the amount of million. The line of credit has a maturity date of As of  the Company had no outstanding balance under the line of credit. The Line of Credit Agreement is collateralized by a restricted money market account, equal to the total amount of the borrowing capacity under the line of credit, held by the same bank institution. The money market account is reported as restricted cash on the balance sheet. The line of credit contains no financial covenants. Borrowings under the Line of Credit Agreement carry interest at a rate equal to the -month London Interbank Offered Rate plus per annum. The interest rate under the Line of Credit Agreement was as of