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Subsequent Events
12 Months Ended
Dec. 31, 2023
Subsequent Events [Abstract]  
Subsequent Events

14. Subsequent Events

On February 12, 2024, the Company executed a trade against the ATM Sales Agreement for a total of 1,041,666 shares at $4.80 per share for net proceeds of $4.8 million. These net proceeds were not included in the cash & cash equivalents balance as of December 31, 2023.

On March 1, 2024, one of the Company's investors exercised warrants of restricted shares for a total of 1,424,272 shares at $2.67 per share for net proceeds of $3.8 million. These net proceeds were not included in the cash & cash equivalents balance as of December 31, 2023.

On March 18, 2024, the Company’s Board of Directors granted 275,000 restricted stock units to Dr. Waksal, which will vest in a single installment on January 31, 2025, and an option to purchase 500,000 shares of the Company’s common stock to Dr. Palasis, which vests in 48 equal monthly installments commencing on January 31, 2024. In addition, on March 21, 2024, the Company’s Board of Directors granted 385,000 performance-based restricted stock units to Dr. Waksal and a performance-based option to purchase 550,000 shares of the Company’s common stock to Dr. Palasis. Each of these performance-based awards will vest in a single installment on January 31, 2028, subject to the achievement by the Company of certain specified strategic milestones within specified timeframes, with potential accelerated vesting in connection with a change in control or qualifying termination of the executive officer’s employment.