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SUBSEQUENT EVENTS | 3 Months Ended
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Mar. 31, 2025
Subsequent Events [Abstract] |
SUBSEQUENT EVENTS | SUBSEQUENT EVENTS Capsid Delivery License Agreement with Eli Lilly and Company On April 3, 2025, the Company entered into a global capsid delivery license agreement (“the Lilly Agreement”), with Eli Lilly and Company (“Lilly”), to develop intravenously administered genomic medicines to treat certain diseases of the CNS. Under the Lilly Agreement, the Company granted a worldwide exclusive license to Lilly to utilize its proprietary, neurotropic adeno-associated virus capsid, STAC-BBB, for one target, with the rights for Lilly to add up to four additional targets after paying additional licensed target fees. Under the Lilly Agreement, the Company has received an $18.0 million upfront license payment. In addition, the Company is eligible to earn up to $1.4 billion in additional licensed target fees and milestone payments across the five potential CNS disease targets under the Lilly Agreement, as well as tiered royalties on the potential net sales of any resulting products, subject to certain specified reductions. At-the-Market Offering Program Subsequent to March 31, 2025, the Company sold 7,090,385 shares of its common stock under the Open Market Sale Agreement℠ with Jefferies, for net proceeds of approximately $5.1 million.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483399/855-10-50-2 + Details
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