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At-the-Market Program
3 Months Ended
Mar. 31, 2023
Stockholders' Equity Note [Abstract]  
At-the-Market Program

7. At-the-Market Program

On February 27, 2023, the Company entered into an Amended and Restated Equity Distribution Agreement (the “at-the-market agreement”) with Goldman Sachs & Co., LLC and BofA Securities, Inc. (each a “Sales Agent”), which amended and restated its Equity Distribution Agreement with Goldman Sachs & Co., LLC, dated August 8, 2022, to add BofA Securities, Inc. as an additional Sales Agent under that agreement. Under the at-the-market agreement, the Company may issue and sell, from time to time and through the Sales Agents, shares of its common stock having an aggregate offering price of up to $200.0 million (the “ATM Program”).

For the three months ended March 31, 2023, the Company sold 1,541,579 shares under the ATM Program, for approximately $31.1 million, net of commissions to Sales Agents, at a weighted-average offering prices per share of $20.25, of which $30.8 million was received in cash during the same period. The remainder of the net proceeds was recorded as other receivables and included in prepaid expenses and other current assets in the condensed consolidated balance sheet as of March 31, 2023 and received in April 2023.