Stockholders Equity (Deficit)

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Stockholders Equity (Deficit)

Note 10 – Stockholders’ Equity

Shelf Registration Statement

On August 8, 2022, the Company filed a $200.0 million shelf registration statement which became effective on August 12, 2022. The shelf registration statement is effective for three years and permits the Company to sell, from time to time, up to $200.0 million in aggregate value of our common stock, preferred stock, debt securities, warrants, and/or units. The shelf registration statement is intended to provide the Company with flexibility to access additional capital when market conditions are appropriate. Included in the $200.0 million shelf registration statement, the Company also filed a prospectus supplement to sell up to an aggregate value of $50.0 million dollars of our common stock through an ATM offering. During the year ended December 31, 2022 the Company sold 475,875 common shares for $6.0 million after deducting underwriting discounts and commissions and other offering expenses.

Common stock reserved for future issuance consisted of the following:

	December 31, 2022		December 31, 2021
Stock options issued and outstanding under the Equity Plans		6,339,558		5,754,005
Restricted stock units		492,862		640,479
Employee stock purchase plan		664,976		484,027
Shares available for future sale under the at-the-market offering (1)		3,454,064		—
Total shares of common stock reserved		10,951,460		6,878,511

(1) Based on the closing stock price of $12.67 as reported on the Nasdaq Global Market on December 30, 2022.