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Common Stock
 3 Months Ended
Mar. 31, 2024
Equity [Abstract]  
Common Stock

9. Common Stock

Common Stock

Common shares are voting and dividends may be paid when, as and if declared by the board of directors.

Common Stock Reserved

The Company has reserved the following shares of common stock for future issuance as of:

 

 

 

MARCH 31,
2024

 

 

DECEMBER 31,
2023

 

 

 

 

 

 

 

Stock options outstanding

 

 

5,112,673

 

 

 

5,666,621

 

Unvested restricted stock

 

 

2,306,889

 

 

 

2,526,432

 

Shares available for future grant under stock option plan

 

 

2,042,216

 

 

 

252,053

 

Warrants

 

 

7,507,708

 

 

 

7,507,708

 

 

 

16,969,486

 

 

 

15,952,814

 

Shelf Registration and At-the-Market Offerings

On August 5, 2022, the Company filed the Shelf with the SEC, which covers the offering, issuance, and sale by us of up to an aggregate of $200.0 million of our common stock, preferred stock, debt securities, warrants and/or units of any combination thereof. We simultaneously entered into a sales agreement with Jefferies LLC, as sales agent, to provide for the issuance and sale by us of up to $75.0 million of our common stock from time to time in “at-the-market” offerings under the Shelf. The Shelf was declared effective by the SEC on August 12, 2022. As of March 31, 2024, the Company has sold and issued 109,485 shares of common stock under the ATM Program, with total net proceeds of $0.2 million. Subsequent to March 31, 2024, no additional sales have been made under the ATM Program.