Common Stock |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Stockholders' Equity Note [Abstract] | |
| Common Stock | 6. Common Stock In June 2026, the stockholders approved a second amendment to the Company's Fourth Amended and Restated Certificate of Incorporation, as amended, to increase the number of authorized shares of common stock from 300,000,000 to 450,000,000. Each share of common stock entitles the stockholder 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. As of June 30, 2026, no dividends had been declared. At-the-Market Offerings In August 2024, the Company entered into a sales agreement (the “2024 Sales Agreement”) with TD Securities (USA) LLC (“TD Securities”), pursuant to which the Company may offer and sell shares of its common stock having aggregate gross proceeds of up to $250.0 million from time to time in “at-the-market” offerings through TD Securities, as the Company’s sales agent. As of December 31, 2025, no shares of common stock had been sold under the 2024 Sales Agreement. During the three months ended March 31, 2026, the Company sold 14,141,569 shares of common stock under the 2024 Sales Agreement, from which the Company received $140.4 million in gross proceeds. In connection therewith, $3.3 million in commissions were paid to TD Securities, yielding $137.1 million in net proceeds. During the three months ended June 30, 2026, the Company sold 1,865,000 shares of common stock under the 2024 Sales Agreement, from which the Company received $22.6 million in gross proceeds. In connection therewith, $0.5 million in commissions were paid to TD Securities, yielding $22.1 million in net proceeds. Follow-On Offering In May 2026, the Company completed a public offering of 26,354,167 shares of common stock, which share amount includes the exercise in full of the underwriters' option to purchase an additional 3,437,500 shares, at an offering price of $12.00 per share. The Company received proceeds of $296.8 million, which was net of $19.4 million in underwriting discounts and other offering expenses. |