STOCKHOLDERS’ EQUITY |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Stockholders' Equity Note [Abstract] | |
| STOCKHOLDERS' EQUITY | STOCKHOLDERS’ EQUITY Capital Structure On March 1, 2024, the Company entered into an underwriting agreement relating to a public offering of (i) 2,500,000 shares of the Company’s common stock, par value $0.000005 per share, and (ii) warrants to purchase up to an aggregate of 2,500,000 shares of the Company’s common stock (the “March 2024 Public Offering”). The warrants have a five-year term and an exercise price of $20.00 per share. Each warrant is exercisable immediately upon issuance, subject to certain limitations on beneficial ownership. The price to the public in the March 2024 Public Offering was $16.00 per share of common stock and accompanying warrants, which resulted in approximately $37.0 million of net proceeds to the Company after deducting the underwriting discount and offering expenses of approximately $3.0 million. On November 10, 2025, the Company entered into an underwriting agreement relating to the issuance and sale of 10,815,000 shares of the Company's common stock, par value $0.000005 per share, and accompanying one-half warrants to purchase up to 5,407,500 shares of the Company's common stock at a combined price of $6.14 per share. Further, in lieu of common stock to certain investors, the Company issued pre-funded warrants to purchase up to 1,400,000 shares of the Company's common stock and accompanying one-half warrants to purchase up to 700,000 shares of the Company's common stock at a combined price of $6.139995 per share. Each whole warrant has a five-year term and an exercise price of $7.25 per share. The offering resulted in approximately $70.0 million of net proceeds to the Company after deducting the underwriting discount and offering expenses of approximately $5.0 million. During the three months ended March 31, 2026, pre-funded warrants were exercised to purchase 875,000 shares of the Company's common stock.
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