Stockholders' Equity |
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| Stockholders' Equity | 12. Stockholders’ Equity Preferred stock The Company has 10,000,000 shares of preferred stock authorized, of which no shares were issued and outstanding as of June 30, 2025 and December 31, 2024. Common stock The Company has 500,000,000 shares of common stock authorized, of which 83,905,417 and 72,068,059 shares were issued and outstanding as of June 30, 2025 and December 31, 2024, respectively. Common stockholders are entitled to one vote for each share of outstanding common stock held at all meetings of stockholders and written actions in lieu of meetings. Common stockholders are entitled to receive dividends for each share of outstanding common stock, if and when declared by the Board. No dividends have been declared or paid by the Company through June 30, 2025. In June 2025, the Company issued 7,518,797 shares of common stock at $6.65 per share resulting in net proceeds of approximately $46.8 million after deducting underwriting discounts, commissions and offering expenses. In July 2025, the Company issued 7,500,000 shares of common stock at a public offering price of $8.00 per share resulting in net proceeds of approximately $56.4 million after deducting underwriting discounts, commissions and offering expenses. The following shares were issued to consultants and vendors for the three months ended June 30, 2025:
The following shares were issued to consultants and vendors for the three months ended June 30, 2024:
During the three months ended June 30, 2025 and 2024, the Company issued shares of common stock to consultants and vendors to settle share liabilities. The fair value of these shares is recorded to share liability in the consolidated balance sheet and the change in fair value upon settlement of the share liability is recorded to change in fair value of share liability in the consolidated statements of operations and comprehensive loss. Activity of the share liabilities for the six months ended June 30, 2025 is as follows:
Activity of the share liabilities for the six months ended June 30, 2024 is as follows:
Common Stock Warrants In May 2025, a warrant to purchase 1,294,778 shares of common stock was exercised and the Company received gross proceeds of $4,915,312. As of June 30, 2025 and December 31, 2024, there were warrants to purchase shares of common stock outstanding of 221,519 and 1,516,297 shares, respectively. |
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