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Stockholders' Equity (Deficit)
 12 Months Ended
Dec. 31, 2022
Equity [Abstract]  
Stockholders' Equity (Deficit)

12. Stockholders’ EQUITY (Deficit)

Common Stock—Each share of common stock entitles the holder to one vote on all matters submitted to a vote of the Company’s stockholders provided, however, that, except as otherwise required by law, holders of common stock shall not be entitled to vote on any amendment to the Company’s Certificate of Incorporation that relates solely to the terms of one or more outstanding series of Preferred Stock if the holders of such affected series are entitled, either separately or together with the holders of one or more other such series, to vote thereon pursuant to the Certificate of Incorporation or pursuant to the Delaware General Corporation Law. Common stockholders are entitled to receive dividends, as may be declared by the Company’s Board of Directors, if any, subject to the preferential dividend rights of the Preferred Stock. No dividends were declared or paid during the years ended December 31, 2022 and 2021.

The Company had reserved shares of common stock for issuance in connection with the following:

 

 

 

December 31,

 

 

 

2022

 

 

2021

 

Common stock authorized

 

 

300,000,000

 

 

 

56,500,000

 

Common stock issued and outstanding

 

 

66,512,011

 

 

 

7,020,487

 

Common stock authorized and reserved for future issuances:

 

 

 

 

 

 

Series A redeemable convertible preferred stock

 

 

—

 

 

 

6,407,256

 

Series B redeemable convertible preferred stock

 

 

—

 

 

 

16,746,059

 

Series C-1 redeemable convertible preferred stock

 

 

—

 

 

 

13,150,430

 

Series C-2 redeemable convertible preferred stock

 

 

—

 

 

 

3,170,585

 

Common stock reserved for the exercise of stock options

 

 

8,480,950

 

 

 

5,339,011

 

Common stock reserved for the unvested restricted stock units

 

 

740,297

 

 

 

—

 

Common stock reserved for future issuance of share-based awards

 

 

2,817,751

 

 

 

1,444,492

 

Total common stock authorized and reserved for future issuance

 

 

12,038,998

 

 

 

46,257,833

 

Unreserved common stock available for future issuance

 

 

221,448,991

 

 

 

3,221,680

 

 

In January 2022, the Company completed its IPO in which the Company issued and sold 11,369,369 shares of its common stock at a price of $19.00 per share. After deducting underwriting discounts and commissions and estimated offering expenses, the Company received net proceeds of approximately $196.4 million. Upon the completion of the IPO, all of the Company’s outstanding shares of preferred stock were converted into shares of its common stock.

In October 2022, the Company completed a follow-on public offering in which the Company issued 7,697,812 shares of its common stock at a price of $32.00 per share. After deducting underwriting discounts and commissions and estimated offering expenses, the Company received net proceeds of approximately $230.6 million.