Stockholders' Equity |
6 Months Ended |
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Jun. 30, 2026 | |
| Stockholders' Equity | |
| Stockholders' Equity | 5. Stockholders’ Equity Preferred Stock As of June 30, 2026 and December 31, 2025, the Company’s amended and restated certificate of incorporation (the “Charter”) authorized the Company to issue 10,000,000 shares of undesignated preferred stock. There were no shares of preferred stock outstanding as of June 30, 2026 or December 31, 2025. Common Stock As of June 30, 2026 and December 31, 2025, the Company’s Charter authorized the Company to issue 400,000,000 shares of $0.00001 par value common stock. There were 139,824,273 and 120,499,433 shares of common stock issued and outstanding as of June 30, 2026 and December 31, 2025, respectively. 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 board of directors, if any, subject to any preferential dividend rights of any series of preferred stock that may be outstanding. No dividends have been declared through June 30, 2026. Warrants In November 2024, the Company issued warrants to Biosion, Inc. (“Biosion”) and Chia Tai Tianqing Pharmaceutical Group, Co., Ltd. (“CTTQ”) to purchase, in the aggregate, 14,281,985 shares of the Company’s common stock (the “Warrants”). The Warrants have an initial exercise price of $0.00001 per share, subject to adjustment as provided in the Warrants. The Warrants are immediately exercisable, subject to any applicable overseas direct investment filing that may be required for the holders. The Warrants will terminate when exercised in full. As of June 30, 2026, 3,000,000 Warrants were unexercised. Sales of Common Stock Pursuant to At-The-Market Facility In March 2026, the Company sold an aggregate of 18.4 million shares of its common stock for gross proceeds of $59.8 million, pursuant to an amended and restated sales agreement with Leerink Partners LLC and Cantor Fitzgerald & Co., as sales agents, dated February 27, 2025. The Company paid selling commissions and other fees of $1.8 million in connection with the sales.
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