v3.25.2
Common Stock
 6 Months Ended
Jun. 30, 2025
Equity [Abstract]  
Common Stock

6. Common Stock

As of June 30, 2025, the Company had reserved the following shares of common stock for future issuance:

 

Options issued and outstanding under the 2025 Equity Incentive Plan, 2019 Equity Incentive Plan and 2015 Stock Plan

 

 

3,391,339

 

Shares available for future grants under the 2025 Inducement Plan

 

 

62,500

 

Shares available for future grants under the 2025 Equity Incentive Plan

 

 

1,017,658

 

Pre-funded warrants issued and outstanding

 

 

10,425,428

 

Shares reserved under the 2019 Employee Stock Purchase Plan

 

 

556,346

 

Total

 

 

15,453,271

 

 

On August 11, 2023, the Company filed a shelf registration statement on Form S-3 with the SEC, which was declared effective on August 17, 2023, related to the sale and issuance of up to $450 million of the Company’s securities, including up to $150 million of shares of common stock that may be offered and sold from time to time in one or more “at-the-market” offerings pursuant to a Controlled Equity OfferingSM Sales Agreement (the “ATM Sales Agreement”) with Cantor Fitzgerald & Co. and Leerink Partners LLC. No shares were sold during the three and six months ended June 30, 2025 under the ATM Sales Agreement. No shares were sold during the three months ended June 30, 2024. During the six months ended June 30, 2024, the Company sold 45,665 shares of common stock in “at-the-market” offerings pursuant to the ATM Sales Agreement for net proceeds of $9.0 million, after deducting commissions and other offering related costs. As of June 30, 2025, $140.6 million of shares of common stock are available for future issuance under the ATM Sales Agreement.