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Subsequent Events
12 Months Ended
Dec. 31, 2024
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
In February 2025, the Company completed a follow-on offering of 7,475,000 shares of the Company’s common stock, including 975,000 shares from the exercise of the underwriters’ option to purchase additional shares, at an offering price of $10.00 per share. The aggregate net proceeds to the Company from the follow-on offering were approximately $69.8 million after deducting underwriting discounts and commissions and estimated offering expenses. The Company used $49.5 million of the net proceeds to repurchase all of the 5,270,845 shares held by our significant stockholder, KCK Ltd., at $9.40 per share. The repurchased shares became authorized but unissued shares.
In February 2025, the Company terminated its Sales Agreement with Leerink and closed the ATM program. On the date of termination, the Company had $38.3 million remaining under the ATM program.