Capital Stock |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Equity [Abstract] | |
| Capital Stock | Capital Stock On April 6, 2026, the Company entered into a private placement for 438,471 shares of common stock, pre-funded warrants to purchase up to 1,527,711 shares of common stock, and accompanying Tranche A-1 and Tranche A-2 warrants to purchase up to an aggregate of 9,830,907 shares of common stock. The total net proceeds from the private placement were approximately $4.9 million. The Tranche A-1 warrants are exercisable for up to 7,864,726 shares of common stock at an exercise price of $1.94 per share for an aggregate of up to approximately $15.3 million and will expire at the earlier of (i) 30 calendar days following the announcement of the Company entering into a definitive agreement for a strategic transaction by the Company that results in the material expansion of the potential commercial market opportunity of the Company's therapeutic assets and (ii) nine months from the initial exercise date of April 6, 2026. The Tranche A-2 warrants are exercisable for up to 1,966,181 shares of common stock at an exercise price of $1.94 per share for an aggregate of up to approximately $3.8 million and will expire at the earlier of (i) 30 days following the announcement of enrollment with respect to a Phase 3 clinical trial of an asset owned or licensed by the Company and (ii) four years from the initial exercise date of April 6, 2026. During January 2026, 188,889 shares of common stock were issued upon the exercise of pre-funded warrants and 4,253 warrant shares expired. During 2025, 661,581 shares of common stock were issued upon the exercise of pre-funded warrants and 56,301 shares of common stock were issued upon the exercise of Class C Warrants at $4.7079 per share for aggregate proceeds of approximately $0.3 million.
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