Mirna Therapeutics, Inc. Notes to Condensed Consolidated Financial Statement s (Unaudited) 1. Nature of Business and Basis of Presentation Nature of business Mirna Therapeutics, Inc. ( Mirna  or  the Company ) is a clinical stage biopharmaceutical company developing a broad pipeline of microRNA -based oncology therapeutics. The Company was incorporated in Delaware in December 2007 as a wholly -owned subsidiary of Asuragen, Inc. ( Asuragen ) and was spun out to existing Asuragen stockholders in December 2009. The Company is located in Austin, Texas. In October 2015, the Company sold 6,250,000 shares of common stock, $0.001 par value per share, in an underwritten public offering (the  IPO ) and 2,395,010 shares of comm on stock in a concurrent private placement, with both offerings at a price of $7.00 per share. The underwriters of the IPO purchased an additional 704,962 shares of common stock pursuant to their option to purchase additional shares. The Company s aggregate net proceeds from the IPO were $43.7 million, after deducting the transaction offering costs a nd the underwriting discounts incurred. The Company also received net proceeds of $16.7 million after deducting the offering transaction costs from the concurrent private placement. The Company continues to be subject to a number of risks common to companies in similar stages of development. Principal among these risks are the uncertainties of technological innovations, dependence on key individuals, development of the same or similar technological innovations by the Company s competitors and protection of proprietary technology. The Company s ability to fund its planned clinical operations, including completion of its planned trials, is expected to depend on the amount and timing of cash receipts from future collaboration or product sales and/or financing transactions. The Company believes that its cash and cash equivalents of $35.7 million at September 30, 2015, plus the proceeds from the IPO and concurrent private placement of common stock completed i