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Common Stock Warrants | 6 Months Ended
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Jun. 30, 2024
Equity [Abstract] |
Common Stock Warrants | COMMON STOCK AND COMMON STOCK WARRANTS As of June 30, 2024, the Company’s Restated Certificate of Incorporation authorized the Company to issue 500 million shares of common stock, par value $0.001 per share. The voting, dividend, and liquidation rights of the holders of the Company’s common stock are subject to and qualified by the rights, powers and preferences of the holders of any preferred stock that may be issued. Each share of common stock entitles the holder to one vote on all matters submitted to a vote of the Company’s stockholders. Common stockholders are entitled to receive dividends, as may be declared by the board of directors, if any. No cash dividends have been declared or paid to date. Warrants and Pre-Funded Warrants In connection with public and private sales of shares of its common stock, the Company has issued warrants and pre-funded warrants, which are exercisable for the purchase shares of the Company’s common stock. All outstanding warrants and pre-funded warrants are currently exercisable and do not have price reset provisions. Upon the closing of these public and private offerings, the Company received approximately 99% of the exercise price for the pre-funded warrants, for which the remaining exercise price is equal to or less than $0.01 per share. There were no warrant exercises during the three or six months ended June 30, 2024. As of June 30, 2024, the Company’s outstanding warrants and pre-funded warrants to purchase shares of common stock consisted of the following:
Issuance Date |  | Number of Shares of Common Stock Issuable |  | Exercise Price |  | Expiration Date
October 25, 2016 |  | 5,155 |  |  | $ | 19.78 |  |  | October 24, 2026
December 28, 2017 |  | 115,916 |  |  | $ | 19.78 |  |  | December 28, 2027
September 12, 2018 |  | 20,220 |  |  | $ | 19.78 |  |  | September 12, 2028
October 19, 2018 |  | 20,016 |  |  | $ | 19.78 |  |  | October 19, 2028
March 13, 2019 |  | 5,000 |  |  | $ | 19.78 |  |  | March 12, 2029
November 29, 2019 |  | 1,250,000 |  |  | $ | 12.00 |  | (a) | n/a
March 23, 2021 |  | 50,000 |  |  | $ | 8.70 |  | (b) | n/a
November 9, 2021 |  | 2,008,032 |  |  | $ | 4.98 |  | (c) | n/a
March 3, 2022 |  | 766,666 |  |  | $ | 1.80 |  | (d) | n/a
July 6, 2022 |  | 13,276,279 |  |  | $ | 1.095 |  | (e) | n/a
July 6, 2022 |  | 44,075,050 |  |  | $ | 1.095 |  |  | July 6, 2027
December 9, 2022 |  | 32,137,448 |  |  | $ | 1.50 |  |  | December 9, 2027
December 9, 2022 |  | 6,800,000 |  |  | $ | 1.10 |  | (f) | n/a
May 18, 2023 |  | 8,263,157 |  |  | $ | 1.52 |  | (g) | n/a
|  | 108,792,939 |  |  |  |  |
(a) In November 2019, the Company received $11.999 per pre-funded warrant, or $21.0 million in aggregate proceeds. Each pre-funded warrant may be exercised for an additional $0.001 per pre-funded warrant. (b) In March 2021, the Company received $8.69 per pre-funded warrant, or $435 thousand in aggregate proceeds. Each pre-funded warrant may be exercised for an additional $0.01 per pre- funded warrant. (c) In November 2021, the Company received $4.97 per pre-funded warrant, or $10.0 million in aggregate proceeds. Each pre-funded warrant may be exercised for an additional $0.01 per pre-funded warrant. (d) In March 2022, the Company received $1.79 per pre-funded warrant, or $1.4 million in aggregate proceeds. Each pre-funded warrant may be exercised for an additional $0.01 per pre-funded warrant. (e) In July 2022, the Company received $1.094 per pre-funded warrant, or $14.5 million in aggregate proceeds. Each pre-funded warrant may be exercised for an additional $0.001 per pre-funded warrant. (f) In December 2022, the Company received $1.099 per pre-funded warrant, or $7.5 million in aggregate proceeds. (g) In May 2023, the Company received $1.519 per pre-funded warrant, or $12.6 million in aggregate proceeds. Each pre-funded warrant may be exercised for an additional $0.001 per pre-funded warrant.

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