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Common Stock
 12 Months Ended
Dec. 31, 2024
Equity [Abstract]  
Common Stock Common Stock
The Company’s common stockholders are entitled to dividends if and when declared by the Company’s Board of Directors, or the Board of Directors. As of December 31, 2024 and 2023, no dividends on the Company’s common stock had been declared by the Board of Directors.
The Company’s common stock has been reserved for the following potential future issuances:
As of December 31,
20242023
Shares underlying outstanding stock options
4,631,750 4,012,903
Shares underlying unvested restricted stock units7,020,251 4,346,785
Shares underlying unvested market-based restricted stock units— 2,260,764
Shares underlying unvested performance-based restricted stock units1,290,684 412,490
Shares available for issuance under the 2018 Incentive Award Plan
8,079,498 7,053,406
Shares available for issuance under the 2018 Employee Stock Purchase Plan2,208,577 1,679,635
Shares available for issuance under the 2023 Employment Inducement Incentive Award Plan3,916,766 4,949,988 
Total 27,147,52624,715,971
Equity Offering
In May 2023, the Company completed a follow-on underwritten public offering, in which it issued and sold 14,375,000 shares of its common stock at a price of $28.00 per share, and received net proceeds of $381.4 million after deducting underwriting discounts and commissions and other offering costs of $21.1 million. In December 2023, the Company completed a registered direct offering with an investment management firm, in which it issued and sold 3,387,446 shares of its common stock at a price of $26.77 per share, and received net proceeds of $90.6 million.
At-The-Market Offering Program
In August 2024, the Company entered into an Open Market Sales Agreement, or the Sales Agreement, with Jefferies LLC, or the Agent, with respect to an at-the-market offering program under which the Company may offer and sell, from time to time at its sole discretion, shares of its common stock, having aggregate gross proceeds of up to $400.0 million through the Agent, subject to the terms and conditions of the Sales Agreement. During the year ended December 31, 2024, no shares of the Company's common stock were sold under the Sales Agreement.