rights each holder of a share of outstanding common stock also holds one share purchase right ( a "right" ) for each share of common stock . each right entitles the holder to purchase from the company one half of one-hundredth of a share of series a junior participating preferred stock , $ 0.01 par value ( the "junior preferred shares" ) , of the company at a price of $ 135 per one half of one-hundredth of a junior preferred share ( the "purchase price" ) . the rights are not exercisable until the earlier of acquisition by a person or group of 15% ( 15 % ) or more of the outstanding common stock ( an "acquiring person" ) or the announcement of an intention to make or commencement of a tender offer or exchange offer , the consummation of which would result in the beneficial ownership by a person or group of 15% ( 15 % ) or more of the outstanding common stock . in the event that any person or group becomes an acquiring person , each holder of a right other than the acquiring person will thereafter have the right to receive upon exercise that number of shares of common stock having a market value of two times the purchase price and , in the event that the company is acquired in a business combination transaction or 50% ( 50 % ) or more of its assets are sold , each holder of a right will thereafter have the right to receive upon exercise that number of shares of common stock of the acquiring company which at the time of the transaction will have a market value of two times the purchase price . under certain specified circumstances , the board of directors of the company may cause the rights ( other than rights owned by such person or group ) to be exchanged , in whole or in part , for common stock or junior preferred shares , at an exchange rate of one share of common stock per right or one half of one-hundredth of a junior preferred share per right . at any time prior to the acquisition by a person or group of beneficial ownership of 15% ( 15 % ) or more of the outstanding common stock , the board of directors of the company may redeem the rights in whole at a price of $ 0.01 per right . common stock reserved for future issuance at december 31 , 2003 , the company has reserved shares of common stock for future issuance under all equity compensation plans as follows ( shares in thousands ) : p . significant revenue arrangements the company has formed strategic collaborations with major pharmaceutical companies in the areas of drug discovery , development , and commercialization . research and development agreements provide the company with financial support and other valuable resources for research programs and development of clinical drug candidates , product development and marketing and sales of products . collaborative research and development agreements in the company's collaborative research , development and commercialization programs the company seeks to discover , develop and commercialize major pharmaceutical products in conjunction with and supported by the company's collaborators . collaborative research and development arrangements provide research funding over an initial contract period with renewal and termination options that vary by agreement . the agreements also include milestone payments based on the achievement or the occurrence of a designated event . the agreements may also contain development reimbursement provisions , royalty rights or profit sharing rights and manufacturing options . the terms of each agreement vary . the company has entered into significant research and development collaborations with large pharmaceutical companies . p . significant revenue arrangements novartis in may 2000 , the company and novartis pharma ag ( "novartis" ) entered into an agreement to collaborate on the discovery , development and commercialization of small molecule drugs directed at targets in the kinase protein family . under the agreement , novartis agreed to pay the company an up-front payment of $ 15000000 made upon signing of the agreement , up to $ 200000000 in product research funding over six .
what was the percentage change in the common stock and option
.