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

9. Stockholders’ Equity

Preferred Stock

The Company's board of directors has the authority to issue up to 50,000,000 shares of preferred stock in one or more series with rights, preferences and privileges to be determined. There were no shares of preferred stock issued and outstanding as of June 30, 2026.

Common Stock

Common stock outstanding in the condensed consolidated balance sheet and condensed consolidated statement of stockholders’ equity as of June 30, 2026 includes 44,253 shares of restricted stock that vest based on service conditions and are subject to the Company’s right of repurchase upon termination of services. Common stock reserved for future issuance consisted of the following:

 

 

 

June 30, 2026

 

 

 

(in thousands)

 

Shares reserved for options and restricted stock units issued under the equity plans

 

 

31,687

 

Shares reserved for future issuance under the equity plans

 

 

20,282

 

Shares reserved for future issuance under the employee stock purchase plan

 

 

5,837

 

Total

 

 

57,806

 
In addition, the Company may be required to issue additional shares of its capital stock if certain milestone conditions are met pursuant to the contingent consideration associated with the Company’s acquisitions of assets (see Note 6). In 2023, 6,072,445 shares of common stock were issued related to BlackThorn Merger Agreement upon achievement of the Phase 3 navacaprant dosing milestone that was met in 2023. As of June 30, 2026, no shares have been reserved for potential future issuances as no other BlackThorn Milestones have been achieved.