v3.26.3
Subsequent Events
9 Months Ended
Sep. 30, 2026
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
Securities Purchase Agreement
On October 1, 2026, the Company entered into a Securities Purchase Agreement (the “October Purchase Agreement”) with certain institutional investors (the “ October Purchasers”), pursuant to which the Company agreed to sell and issue to the Purchasers 11,275,605 shares (the “Shares”) of the Company’s common stock (“Common Stock”) and pre-funded warrants (the “Pre-Funded Warrants”) to purchase up to 4,824,395 shares of Common Stock (the “Pre-Funded Warrant Shares”), in a private
placement transaction (the “October Private Placement”). The purchase price per share of Common Stock is $3.30 per share (the “Per Share Purchase Price”) and the purchase price per Pre-Funded Warrant is $3.29 (the “Per Pre-Funded Warrant Purchase Price”), for total gross proceeds of approximately $53.1 million. Each Pre-Funded Warrant has an exercise price of $0.01 per share of Common Stock, is immediately exercisable, subject to certain conditions set forth in the Pre-Funded Warrants, and will not expire. On October 5, 2026, the Company closed the October Private Placement, resulting in approximately $49.8 million of net proceeds to the Company after deducting placement agent fees and estimated offering expenses. Immediately following the issuance of the Shares, the Company had 93,744,244 shares of Common Stock outstanding.