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Capital Structure
 12 Months Ended
Dec. 31, 2024
Stockholders' Equity Note [Abstract]  
Capital Structure

10. Capital Structure

Common Stock

The Company has two authorized classes of common stock, Class A and Class B. The rights of the holders of Class A and Class B common stock are identical, except with respect to voting and conversion. Each share of Class A common stock is entitled to one vote and shares of Class B common stock are non-voting. Each share of Class B common stock may be converted at any time to one share of Class A common stock at the option of its holder, subject to the ownership limitations provided for in the Company’s amended and restated certificate of incorporation.

In August 2024, the Company entered into the 2024 Sales Agreement with respect to an at-the-market offering program with TD Cowen, which allows the Company to issue and sell shares of Class A common stock pursuant to the 2024 Form S-3 for total gross sales proceeds of up to $50.0 million from time to time through TD Cowen, acting as its agent. As of December 31, 2024, the Company has not sold any shares of Class A common stock under the 2024 Sales Agreement.

The following shares of Class A common stock were reserved for future issuance:

 

 

 

December 31,

 

 

 

2024

 

 

2023

 

Warrants to purchase Class A common stock

 

 

2,646,247

 

 

 

2,775,978

 

Options to purchase Class A common stock

 

 

6,113,155

 

 

 

7,251,663

 

Restricted stock units outstanding

 

 

1,631,162

 

 

 

2,692,459

 

Class A common stock available for future grants under the 2021 Equity Incentive
   Plan

 

 

2,071,498

 

 

 

1,002,091

 

Class A common stock available for future grants under the 2021 Employee Stock
   Purchase Plan

 

 

1,060,293

 

 

 

801,668

 

Total

 

 

13,522,355

 

 

 

14,523,859

 

 

Preferred Stock

The Company is authorized to issue up to 5,000,000 shares of preferred stock, par value $0.0001 per share. There were no preferred shares outstanding at December 31, 2024 and 2023.