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Subsequent Events
6 Months Ended
Jun. 30, 2026
Subsequent Events [Abstract]  
Subsequent Events

9. Subsequent Events

The Company has evaluated all subsequent events through the date of the filing of this Quarterly Report on Form 10-Q with the SEC to ensure that this filing includes appropriate disclosure of events both recognized in the condensed consolidated financial statements as of June 30, 2026, and events which occurred subsequent to June 30, 2026, but were not recognized in the condensed consolidated financial statements. The Company has determined that there were no subsequent events which required recognition, adjustment to or disclosure in the condensed consolidated financial statements, except as follows:

Effective July 29, 2026, the Company voluntarily terminated the At-The-Market Equity Offering Sales Agreement, dated July 28, 2021, as amended by the ATM Agreement Amendment, by and between the Company and the Agents (the “Prior ATM Agreement”). The Prior ATM Agreement was terminable at will by the Company with no penalty.

On July 29, 2026, the Company entered into an At-The-Market Equity Offering Sales Agreement (the “New ATM Agreement”) with Stifel, Nicolaus & Company, Incorporated, Piper Sandler & Co., Cantor Fitzgerald & Co., Oppenheimer & Co. Inc. and Canaccord Genuity LLC (each, a “New ATM Agent” and together, the “New ATM Agents”), pursuant to which the Company may offer and sell, from time to time, through or to the New ATM Agents, as sales agent or principal, shares of the Company’s common stock (the “New ATM Offering”). Sales of common stock pursuant to the New ATM Agreement, if any, will be made at market prices by any method that is deemed to be an “at the market offering” as defined in Rule 415 under the Securities Act. The Company may not sell any shares under the New ATM Offering unless and until it has filed a new registration statement and a prospectus relating to the New ATM Offering; however, the Company expects to file a new universal shelf registration statement following the expiration of the 2023 Shelf Registration Statement that will include a prospectus relating to the New ATM Offering. The Company has no obligation to sell any shares under the New ATM Agreement, and we may at any time suspend offers under the New ATM Agreement.

In July 2026, the Company’s board of directors terminated the 2025 Repurchase Program, and authorized a new stock repurchase program (the “New Repurchase Program”), each effective as of July 30, 2026. Under the New Repurchase Program, the Company may purchase up to $500.0 million in shares of its common stock over a period of up to three years. The New Repurchase Program may be carried out at the discretion of a committee of the Company’s board of directors through open market purchases, one or more Rule 10b5-1 trading plans, block trades and in privately negotiated transactions.