the number of its authorized shares of preferred stock to shares with a par value of per share. As described in Note A, in the Company completed an IPO of its common stock. Upon completion of the IPO, all outstanding shares of the Company’s redeemable convertible preferred stock were automatically converted or reclassified into an aggregate of shares of the Company’s common stock. As of the Company had shares of authorized and undesignated preferred stock, and did have any preferred stock outstanding.

agreement with Cowen KP Investment LLC in which Cowen KP Investment LLC agreed to purchase and the Company agreed to sell shares of the Company’s Series D- redeemable convertible preferred stock for per share, or an aggregate of million. Upon completion of the IPO, these shares automatically converted into shares of the Company’s common stock.

 Upon completion of the IPO, warrants to purchase shares of Series D preferred stock were reclassified into warrants to purchase shares of the Company’s common stock.

million of convertible notes and the warrants (the Warrants”) to purchase shares of equity securities in a future financing meeting specified criteria (a “Qualified Financing”). The Warrants allow the holders to purchase shares of the same class and series of equity securities issued in the Qualified Financing for an exercise price equal to the per share price paid by the purchasers of such equity securities in the Qualified Financing. When the Company entered into the Deerfield Facility Agreement, the Warrants became warrants to purchase shares of Series D preferred stock. Upon completion of the IPO, the Warrants automatically converted into warrants to purchase shares of the Company’s common stock at an exercise price of per share. The Warrants, if unexercised, expire on the earlier of or upon a liquidation event.

d Facility Agreement, the Company issued the Deerfield Warrant to purchase shares of Series D preferred stock (Note F). The Company recorded the fair value of the Deerfield Warrant as a debt discount and a warrant liability. The Deerfield Warrant, if unexercised, expires on the earlier of or upon a liquidation event. 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. The Company is amortizing the debt discount to interest expense over the term of the Deerfield Convertible Notes.

ty and stated at fair value at each reporting period upon inception. As stated above, upon completion of the IPO, the Warrants and the Deerfield Warrant automatically converted into warrants to purchase the Company’s common stock. The Company marked the Warrants to fair value and reclassified them to equity upon closing of the IPO. The Deerfield Warrant remains classified as a liability and is recorded at fair value at each reporting period since it can be settled in cash. Changes to the fair value of the warrant liability are recorded through the statements of operations as a fair value adjustment (Note L).