Stockholders' Equity |
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| Stockholders' Equity | 10. Stockholders’ Equity March 2026 Public Offering At the closing of the public offering on March 12, 2026, the Company issued and sold 8,470,989 shares of its common stock, including the full exercise by the underwriters of their option to purchase an additional 1,157,407 shares, and pre-funded warrants to purchase 402,468 shares of its common stock with a $0.001 per share exercise price. The gross proceeds from this public offering were $719.0 million, before underwriting discounts and commissions and estimated expenses related to this public offering. The pre-funded warrants are exercisable at any time after the date of issuance and will not expire. As of March 31, 2026, there were 402,468 pre-funded warrants outstanding related to this public offering. September 2025 Public Offering At the closing of the public offering on September 11, 2025, the Company issued and sold 7,627,879 shares of its common stock, including the full exercise by the underwriters of their option to purchase an additional 1,140,000 shares, and pre-funded warrants to purchase 1,112,121 shares of its common stock with a $0.001 per share exercise price. The gross proceeds from this public offering were $288.4 million, before underwriting discounts and commissions and estimated expenses related to this public offering. The pre-funded warrants are exercisable at any time after the date of issuance and will not expire. As of March 31, 2026, there were 112,121 pre-funded warrants outstanding related to this public offering. Shelf Registration Statement and ATM Offering Program On October 1, 2024, the Company filed a registration statement with the SEC for the issuance of common stock, preferred stock, warrants, debt securities, rights and units up to an aggregate of $500.0 million. On October 9, 2024, the registration statement was declared effective by the SEC. The registration statement includes an ATM offering program for the sale of up to $200.0 million of shares of the Company’s common stock. During the three months ended March 31, 2026, the Company sold 1,123,126 shares of its common stock under the ATM offering program, resulting in net proceeds of $58.7 million. No sales were made under the ATM offering program during the three months ended March 31, 2025. As of March 31, 2026, the Company had $100.1 million of remaining capacity under the ATM offering program. On January 28, 2026, the Company filed a registration statement with the SEC for the issuance of common stock, preferred stock, warrants, debt securities, rights and units up to an aggregate of $600.0 million. On January 30, 2026, the registration statement was declared effective by the SEC. Private Placement Offering At the closing of the private placement on January 24, 2024, the Company issued 14,500,500 shares of common stock and pre-funded warrants to purchase 4,666,332 shares of common stock with a $0.001 per share exercise price. The pre-funded warrants are exercisable at any time after the date of issuance and will not expire. As of March 31, 2026, there were 832,333 pre-funded warrants outstanding related to this private placement. Preferred Stock As of March 31, 2026, the Company was authorized to issue up to 10,000,000 shares of the Company’s preferred stock at a par value of $0.001. As of March 31, 2026, no shares of Company preferred stock were issued and outstanding. Common Stock As of March 31, 2026, the Company was authorized to issue up to 150,000,000 shares of common stock at a par value of $0.001. As of March 31, 2026, the Company had issued and outstanding 54,582,749 shares of common stock. Each share of common stock entitles the holder to one vote on all matters submitted to a vote of the Company’s stockholders. Common stockholders are entitled to receive dividends, as may be declared by the Company’s board of directors, if any. No dividends have been declared or paid by the Company through March 31, 2026. The Company had the following shares of common stock reserved for future issuance as of March 31, 2026 and December 31, 2025:
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