Stockholders’ Equity |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Equity [Abstract] | |
| Stockholders’ Equity | 11. Stockholders’ Equity
Preferred Stock
As of June 30, 2026, the Company has authorized shares of preferred stock with rights and preferences, including voting rights, to be designated from time to time by the Board. There were shares of preferred stock issued or outstanding as of June 30, 2026.
Common Stock
As of June 30, 2026, the Company is authorized to issue shares of common stock, par value $ per share. Each holder of common stock is entitled to one vote per share and to receive dividends when and if declared by the Board. As of June 30, 2026, there were shares of common stock issued and outstanding.
On December 1, 2025, the Company effected a 1-for-15 reverse stock split of its issued and outstanding common stock. All share and per share amounts presented herein have been retroactively adjusted to reflect the reverse stock split.
On May 22, 2026, the Company entered into a Stock Purchase Agreement (the “Purchase Agreement”) with the investor, pursuant to which the Company issued shares of the Company’s common stock in a private placement for gross proceeds of approximately $0.5 million.
On June 30, 2026, the Company completed a registered direct offering of shares of the Company’s common stock at a public offering price of $ per share. The net proceeds to the Company from the offering, after deducting underwriting discounts and offering expenses of approximately $0.86 million payable by the Company, were approximately $6.64 million.
As of June 30, 2026, the Company has an effective Common Stock Purchase Agreement with Lincoln Park Capital Fund, LLC, pursuant to which the Company may, from time to time, sell shares of its common stock for aggregate gross proceeds of up to $20.0 million, subject to the terms and conditions set forth in the agreement. No shares were issued under this agreement during the six months ended June 30, 2026.
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