8. Warrants

Upon the closing of our IPO in July 2014, the Company’s outstanding preferred stock warrants for the purchase of 236,836 shares of preferred stock were converted to warrants for the purchase of 89,708 shares of common stock at a weighted average exercise price of $6.32 per share. During the year ended December 31, 2015, warrants for 70,769 shares of common stock were exercised via net share settlement resulting in the issuance of 54,010 shares of common stock as a result of the exercise. Warrants for the purchase of 18,939 shares of common stock remain outstanding at December 31, 2015 at a weighted average exercise price of $7.92 per share.