v3.26.1
Stockholders' Equity
 6 Months Ended
Jun. 30, 2026
Equity [Abstract]  
Stockholders' Equity

5. STOCKHOLDERS’ EQUITY

Common Stock

The Company is authorized to issue 150,000,000 shares of common stock at a par value of $0.0001 per share.

The Company reserved common stock for future issuance as follows:

 

June 30,
2026

 

 

December 31,
2025

 

Outstanding options to purchase common stock

 

 

2,262,488

 

 

 

1,951,417

 

Unvested restricted stock units

 

 

484,320

 

 

 

262,184

 

Equity awards available for future issuance under the 2024 Equity Incentive Plan

 

 

1,264,406

 

 

 

925,367

 

Shares reserved for purchase under the 2024 Employee Stock Purchase Plan

 

 

483,288

 

 

 

295,906

 

Total

 

 

4,494,502

 

 

 

3,434,874

 

Changes in Capital Structure

During the six months ended June 30, 2026, the Company issued approximately 432,306 shares of its common stock under the ATM at an average price per share of $30.89 per share for gross proceeds of $13.4 million and net proceeds of $13.1 million after deducting commissions and offering expenses of $0.3 million.

 

The Company utilized the ATM for the first time in 2026; accordingly, there are no prior period issuances for comparison. The

Company intends to use the net proceeds for general corporate activities, including working capital.