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Stockholders' Equity
 12 Months Ended
Dec. 31, 2023
Stockholders' Equity  
Stockholders' Equity

8. Stockholders’ Equity

Common Stock

At-The-Market Equity Offerings

On October 7, 2020, the Company filed a prospectus supplement to a shelf registration statement that it filed in May 2019 and entered into an at-the-market sales agreement (the 2020 Sales Agreement) with Cowen and Company, LLC (Cowen) in. Under the 2020 Sales Agreement, the Company could sell up to $100.0 million of the Company’s common stock registered under the shelf registration statement that was filed in May 2019. During the year ended December 31, 2021, the Company issued and sold 3,092,603 shares of common stock under the 2020 Sales Agreement at a weighted average price per share of $3.57, for aggregate net proceeds of $10.7 million, after deducting commissions and offering expenses. There were no shares sold under the 2020 Sales Agreement in the year ended December 31, 2022.

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In March 2022, the Company filed a shelf registration statement with the SEC, which was declared effective on April 22, 2022. On April 28, 2022, the Company terminated the 2020 Sales Agreement previously entered into with Cowen in 2020 and entered into a new at-the-market sales agreement (the 2022 Sales Agreement) with Cowen. Under

the 2022 Sales Agreement, the Company may sell up to $100.0 million worth of shares of common stock. During the year ended December 31, 2022, the Company issued and sold 1,953,854 shares of common stock under the 2022 Sales Agreement at a weighted average price per share of $2.22, for aggregate net proceeds of $4.2 million, after deducting commissions and offering expenses.

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During the year ended December 31, 2023, the Company issued and sold 9,822,930 shares of common stock under the 2022 Sales Agreement at a weighted average price per share of $3.01, for aggregate net proceeds of $28.7 million, after deducting commissions and offering expenses. As of December 31, 2023, approximately $66.0 million remained available to be sold under the terms of the 2022 Sales Agreement.

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