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Stockholders' Equity | 12 Months Ended
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Dec. 31, 2024
Equity [Abstract] |
Stockholders' Equity | 9. Stockholders’ Equity 2023 Private Placement On July 21, 2023, we entered into a Securities Purchase Agreement (the “2023 Private Placement”) with Rubric Capital Management L.P., Velan Capital, Clearline Capital and Hercules Capital, Inc. (collectively, the “Purchasers”) whereby we sold 20.7 million shares of our common stock in a private placement at a purchase price of $1.37 per share. In addition, as a component of the 2023 Private Placement, we sold 1.2 million pre-funded warrants to purchase shares of our common stock at a purchase price of $1.3699 per share. The pre-funded warrants have an exercise price of $0.0001 per share. The total net proceeds from the sale of the common stock and pre-funded warrants was $29.8 million (net of $0.2 million in issuance costs). The 2023 Private Placement closed on July 25, 2023. In August 2023, we filed a registration statement with the SEC to register for resale 21.9 million shares of our common stock. The registration statement was declared effective on August 31, 2023. 2022 Private Placement On August 8, 2022, we entered into an agreement to sell 16.1 million shares of our common stock in a private placement at a purchase price of $3.10 per share (“2022 Private Placement”). In addition, as a component of the 2022 Private Placement, we agreed to sell 8.5 million pre-funded warrants to purchase shares of our common stock at a purchase price of $3.0999 per share. The pre-funded warrants have an exercise price of $0.0001 per share. The total net proceeds from the sale of the common stock and pre-funded warrants was $75.1 million (net of $1.4 million in issuance costs). The 2022 Private Placement closed on August 10, 2022. In October 2022, we filed a registration statement with the SEC to register for resale 24.6 million shares of our common stock. The registration statement was declared effective on October 18, 2022. Common Stock Reserved for Future Issuance Shares of our common stock reserved for future issuance as of December 31, 2024 were as follows (in thousands):
|  | Number of |
|  | Shares |
Stock options outstanding |  |  | 26,082 |
Restricted stock units outstanding |  |  | 1,981 |
Shares available for future grants under the Amended & Restated 2007 Equity Incentive Plan |  |  | 12,125 |
Shares of common stock reserved under the Employee Stock Purchase Plan |  |  | 921 |
Shares of common stock underlying warrants |  |  | 298 |
Shares of common stock underlying convertible notes outstanding (see Note 8) |  |  | 9,819 |
Total shares reserved for future issuance |  |  | 51,226 |

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