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Stockholders' Equity | 3 Months Ended
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Dec. 31, 2023
Equity [Abstract] |
Stockholders' Equity | STOCKHOLDERS’ EQUITY The following table summarizes the Company’s shares of common stock and preferred stock:
|  | Shares
| Par Value | Authorized | Issued | Outstanding
|  | (in thousands)
As of December 31, 2023 |  |  |  |
Common stock | $ | 0.001 |  | 290,000 |  | 107,500 |  | 107,500 |
Preferred stock | $ | 0.001 |  | 5,000 |  | — |  | — |
As of September 30, 2023 |  |  |  |
Common stock | $ | 0.001 |  | 290,000 |  | 107,312 |  | 107,312 |
Preferred stock | $ | 0.001 |  | 5,000 |  | — |  | — |
As of December 31, 2023 and September 30, 2023, respectively, 12,559,380 and 12,709,837 shares of common stock were reserved for issuance upon exercise of options and vesting of restricted stock units granted or available for grant under the Company’s 2004 Equity Incentive Plan, 2013 Incentive Plan, and 2021 Incentive Plan, as well as for inducement grants made to new employees under Rule 5635(c)(4) of the Nasdaq Listing Rules. On January 2, 2024, the Company entered into an underwriting agreement with Jefferies LLC, BofA Securities, Inc., and Cowen and Company, LLC, as representatives of the several underwriters. The Company issued 15,790,000 shares of common stock at an offering price of $28.50 per share. The aggregate purchase price paid by investors was $450.0 million and the Company received net proceeds of $429.0 million after deducting advisory fees and offering expenses. On December 2, 2022, the Company entered into an open market sale agreement (the “Open Market Sale Agreement”), pursuant to which the Company may, from time to time, sell up to $250,000,000 in shares of the Company’s common stock through Jefferies LLC, acting as the sales agent and/or principal, in an at-the-market offering (“ATM Offering”). The Company is not required to sell shares under the Open Market Sale Agreement. The Company will pay Jefferies LLC a commission of up to 3.0% of the aggregate gross proceeds received from all sales of the common stock under the Open Market Sale Agreement. Unless otherwise terminated, the ATM Offering shall terminate upon the earlier of (i) the sale of all shares of common stock subject to the Sales Agreement and (ii) the termination of the Sales Agreement as permitted therein. The Company and Jefferies may each terminate the Open Market Sale Agreement at any time upon prior notice. As of December 31, 2023, no shares have been issued under the Open Market Sale Agreement.

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