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

9. Common Stock

Common Stock

Common shares are voting and dividends may be paid when, as and if declared by the board of directors.

Common Stock Reserved

The Company has reserved the following shares of common stock for future issuance as of:

 

 

 

JUNE 30,
2025

 

 

DECEMBER 31,
2024

 

 

 

 

 

 

 

Stock options outstanding

 

 

6,135,068

 

 

 

4,486,181

 

Unvested restricted stock

 

 

—

 

 

 

330,779

 

Shares available for future grant under stock option plan

 

 

2,020,770

 

 

 

2,008,379

 

Warrants

 

 

7,507,708

 

 

 

7,507,708

 

Pre-funded warrants

 

 

—

 

 

 

3,333,333

 

 

 

15,663,546

 

 

 

17,666,380

 

Shelf Registration and At-the-Market Offerings

On August 5, 2022, the Company filed the Shelf with the SEC, which covers the offering, issuance, and sale by us of up to an aggregate of $200.0 million of our common stock, preferred stock, debt securities, warrants and/or units of any combination thereof. We simultaneously entered into a sales agreement with Jefferies LLC, as sales agent, to provide for the issuance and sale by us of up to $75.0 million of our common stock from time to time in “at-the-market” offerings under the Shelf. The Shelf was declared effective by the SEC on August 12, 2022 and expired on August 12, 2025. As of June 30, 2025, the Company sold

and issued 3,923,829 shares of common stock under the ATM Program, with total net proceeds of $20.9 million. Subsequent to June 30, 2025 and through August 5, 2025, the Company has not sold any additional shares of common stock under the ATM Program.