Capital Stock |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Equity [Abstract] | |
| Capital Stock | Capital Stock Exercise of Options For the three months ended March 31, 2026, there were no options exercised. For the three months ended March 31, 2025, we issued 339,142 shares upon option exercises at a weighted-average exercise price of $3.09 per share, with net cash proceeds of $1.0 million. Sales Agreements On May 2, 2024, we entered into a Controlled Equity Offering℠ Sales Agreement (the “Cantor Sales Agreement”) with Cantor Fitzgerald & Co., as sales agent (“Cantor”), under which Cantor, at our discretion and at such times that we may determine from time to time, may sell up to a maximum of $75.0 million of shares of our common stock. Under the terms of the Cantor Sales Agreement, Cantor may sell the shares at market prices by any method that is deemed to be an “at the market offering” as defined in Rule 415 under the Securities Act. On May 2, 2024, we filed a registration statement on Form S-3 registering the offer and sale of these shares under the Securities Act which became effective on May 14, 2024. We will pay a commission of up to 3.0% of gross sales proceeds of any common stock sold under the Cantor Sales Agreement. In the third quarter of 2024, 10,440,000 shares of our common stock were issued and sold pursuant to the Cantor Sales Agreement and we received net proceeds of $29.7 million after Cantor’s commissions and direct offering expenses. In the second quarter of 2025, 7,244,966 shares of our common stock were issued and sold under the same agreement and we received $16.4 million in net proceeds after Cantor’s commissions and direct offering expenses. During the three months ended March 31, 2026, no shares of our common stock were issued and sold pursuant to the Cantor Sales Agreement. As of March 31, 2026, $26.4 million remained available for sale under the Cantor Sales Agreement.
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