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Stockholders' Equity (Deficit)
 9 Months Ended
Sep. 30, 2024
Equity [Abstract]  
Stockholders' Equity (Deficit)

11. Stockholders’ Equity (Deficit)

2024 Stock Repurchase Program

On February 6, 2024, the Company's board of directors authorized a share repurchase program (the "2024 Share Repurchase Program") pursuant to which the Company may repurchase up to $50.0 million of shares of its common stock in the open market, in one or more Rule 10b5-1 trading plans, or in negotiated transactions through March 1, 2026. The repurchases are contingent upon favorable market and business conditions and are funded by cash on hand. The program does not obligate the Company to acquire any specific number of shares. During the nine months ended September 30, 2024, the Company repurchased 13,603,617 shares of its common stock for an aggregate of $36.1 million under the 2024 Share Repurchase Program.

Common Shares Reserved

As of September 30, 2024, the Company had reserved shares of common stock for future issuance under equity compensation plans as follows (in thousands):

 

 

 

Securities To Be Issued Upon Exercise Of Options

 

 

Securities To Be Issued Upon Release Of Restricted Stock

 

 

Number Of Remaining Securities Available For Future Issuance

 

2022 Inducement Equity Incentive Plan

 

 

7,320

 

 

 

898

 

 

 

454

 

2011 Equity Incentive Plan

 

 

7,929

 

 

 

12,781

 

 

 

23,584

 

2017 Inducement Award Plan

 

 

59

 

 

 

—

 

 

 

2

 

2017 Employee Stock Purchase Plan

 

 

—

 

 

 

—

 

 

 

1,379

 

SomaLogic Plans

 

 

24,920

 

 

 

757

 

 

 

—

 

Total common stock reserved for future issuance

 

 

40,228

 

 

 

14,436

 

 

 

25,419