Common and Preferred Stock |
6 Months Ended |
|---|---|
Jun. 30, 2025 | |
| Equity [Abstract] | |
| Common and Preferred Stock | 11. Common and Preferred Stock The Company is authorized to issue 800,000,000 shares of common stock, par value $0.01 per share, and 10,000,000 shares of undesignated preferred stock, par value $0.01 per share, issuable in one or more series as designated by the Company’s board of directors. No other class of capital stock is authorized. As of June 30, 2025 and December 31, 2024, 306,332,133 and 302,959,782 shares of common stock, respectively, were issued and outstanding and no shares of preferred stock were outstanding. In February 2018, the Company entered into a controlled equity offering sales agreement (as amended and restated in February 2025, the “CF Sales Agreement”) with Cantor Fitzgerald & Co. (“Cantor Fitzgerald”), as sales agent, pursuant to which the Company may offer and sell, from time to time, through Cantor Fitzgerald, shares of the Company’s common stock having an aggregate offering price of up to $50.0 million or such other amount as may be permitted by the Sales Agreement. In February 2025, the Company filed a sales agreement prospectus under a registration statement on Form S-3 (File No. 333-285286) covering the sale of up to $200.0 million of common stock through Cantor Fitzgerald under the CF Sales Agreement. Under the CF Sales Agreement, Cantor Fitzgerald may sell shares by any method deemed to be an “at-the-market offering” as defined in Rule 415 under the Securities Act of 1933, as amended. There have been no sales under the CF Sales Agreement since 2023. During the six months ended June 30, 2025, the Company received $0.3 million from the market price stock purchase plan ("MPSPP") for 73,929 shares of common stock. During the six months ended June 30, 2024, the Company received $1.4 million from the MPSPP for 416,099 shares of common stock. For shares of common stock issued pursuant to the Company's 2004 employee stock purchase plan ("ESPP"), see Note 13 – Stock-Based Compensation Expense. |