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Stockholders' Equity (Deficit)
 6 Months Ended
Jun. 30, 2025
Equity [Abstract]  
Stockholders' Equity (Deficit)

8. 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 three or six months ended June 30, 2025, the Company did not repurchase any shares of its common stock under the 2024 Share Repurchase Program.

Common Shares Reserved

As of June 30, 2025, 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

 

 

7,195

 

 

 

515

 

 

 

544

 

2011 Equity Incentive Plan

 

 

12,232

 

 

 

17,301

 

 

 

27,131

 

2017 Inducement Award Plan

 

 

59

 

 

 

—

 

 

 

2

 

2017 Employee Stock Purchase Plan

 

 

—

 

 

 

—

 

 

 

706

 

SomaLogic Plans

 

 

15,949

 

 

 

563

 

 

 

—

 

Total common stock reserved for future issuance

 

 

35,435

 

 

 

18,379

 

 

 

28,383