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Common Stock
 9 Months Ended
Sep. 30, 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:

 

 

 

SEPTEMBER 30,
2024

 

 

DECEMBER 31,
2023

 

 

 

 

 

 

 

Stock options outstanding

 

 

4,601,955

 

 

 

5,666,621

 

Unvested restricted stock

 

 

1,233,032

 

 

 

2,526,432

 

Shares available for future grant under stock option plan

 

 

2,008,379

 

 

 

252,053

 

Warrants

 

 

7,507,708

 

 

 

7,507,708

 

 

 

15,351,074

 

 

 

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 September 30, 2024, the Company has sold and issued 1,268,741 shares of common stock under the ATM Program, with total net proceeds of $7.7 million. Subsequent to September 30, 2024 and through November 4, 2024, the Company has sold and issued 350,401 additional shares of common stock under the ATM Program, with total net proceeds of $2.0 million.