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Stockholders' Equity
 6 Months Ended
Jun. 30, 2024
Stockholders' Equity Note [Abstract]  
Stockholders' Equity

6. Stockholders' Equity

March 2024 Private Placement

See Note 1, “Organization and Business,” for more information regarding the March 2024 private placement.

ATM Sales Agreement

In December 2022, the Company entered into a Sales Agreement with Jefferies, as sales agent, pursuant to which the Company may offer and sell in an at-the-market offering, from time to time through Jefferies, shares of common stock providing for aggregate sales proceeds of up to $150.0 million. The Company has no obligation to sell any shares under the Sales Agreement, and could at any time suspend solicitations and offers under the Sales Agreement. During the year ended December 31, 2023, the Company issued and sold 1,176,470 shares of common stock for aggregate gross proceeds of $50.0 million through the Sales Agreement. No shares of common stock were issued under the Sales Agreement during the six months ended June 30, 2024.

Common Stock

The Company is authorized to issue up to 900,000,000 shares of common stock having a par value of $0.0001 par value as of June 30, 2024 and December 31, 2023. Holders of outstanding shares of common stock are entitled to one vote for each share of common stock held at all meetings of stockholders. Subject to the rights of the holders of any class of the Company’s capital stock having any preference or priority over common stock, the holders of common stock are entitled to receive dividends that are declared by the Company’s board of directors out of legally available funds.

Common stock reserved for future issuance is as follows (in common stock equivalent shares) as of June 30, 2024:

 

 

 

June 30,

 

 

 

2024

 

Issued and outstanding:

 

 

 

Stock options

 

 

10,793,201

 

Restricted stock units

 

 

444,718

 

Authorized for future issuance:

 

 

 

2021 Equity Incentive Plan

 

 

2,731,595

 

2021 Employee Stock Purchase Plan

 

 

1,567,281

 

Total

 

 

15,536,795