COMMON STOCK AND STOCKHOLDERS’ EQUITY (DEFICIT) |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Equity [Abstract] | |
| COMMON STOCK AND STOCKHOLDERS’ EQUITY (DEFICIT) | COMMON STOCK AND STOCKHOLDERS’ EQUITY (DEFICIT) Common Stock Holders of common stock are entitled to one vote per share and to receive dividends and, upon liquidation or dissolution, are entitled to receive all assets available for distribution to common stockholders. The common stock has no preemptive or other subscription rights and there are no redemption or sinking fund provisions with respect to such shares. Common stock is subordinate to the preferred stock with respect to dividend rights and rights upon liquidation, winding-up, and dissolution of the Company. In connection with its Initial Public Offering in October 2021, the Company amended and restated its certificate of incorporation to authorize 300,000,000 shares of common stock. Stock Repurchases There were no repurchased shares for both the three months ended March 31, 2026 and 2025. Sales of Common Stock Under At-the-Market Offering In December 2025, the Company filed a Registration Statement on Form S-3 covering the offering of up to $200.0 million of common stock, preferred stock, debt securities, warrants and units, which was declared effective by the SEC on December 23, 2025 (the S-3 Registration Statement). On December 11, 2025, the Company also entered into an Open Market Sales Agreement (the Sales Agreement) with Jefferies LLC as sales agent to sell shares of the Company’s common stock, from time to time, with aggregate gross sales proceeds of up to $75.0 million pursuant to the S-3 Registration Statement as an “at-the-market” offering under the Securities Act (the 2025 ATM Offering Program). During the three months ended March 31, 2026, the Company utilized the 2025 ATM Offering Program and sold 69,636 shares of common stock for gross proceeds of $1.2 million, before deducting commissions and offering-related costs of $0.7 million. Net proceeds of $0.5 million from these sales were recorded in additional paid-in capital within stockholders’ equity.
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