Common Stock

6 Months Ended

Jun. 30, 2022

Equity [Abstract]

Common Stock

9. Common Stock

Each share of common stock has the right to one vote. The holders of common stock are also entitled to receive dividends whenever funds are legally available and when declared by the board of directors, subject to the prior rights of holders of all classes of stock outstanding having priority rights as to dividends. No cash dividends have been declared by the board of directors from inception.

The Company has reserved the following shares of common stock for issuance, on an as-converted basis, as follows:

	June 30, 2022		December 31, 2021
Stock incentive plans		6,362,334		5,324,202
Exercise of common stock warrants		94,688		94,688
Total		6,457,022		5,418,890

Open Market Sales Agreement

In May 2022, the Company entered into a sales agreement with Cowen and Company, LLC, as a sales agent, pursuant to which the Company may offer and sell shares of its common stock, from time to time, up to an aggregate amount of gross sales proceeds of $50.0 million through an at-the-market ("ATM") Program ("2022 ATM Program"), under the 2022 Shelf Registration Statement. As of June 30, 2022, the Company had not sold any shares under the Sales Agreement.