Stockholders' Equity

6 Months Ended

Jun. 30, 2022

Equity [Abstract]

Stockholders' Equity

9. Stockholders’ Equity

Common Stock Reserved for Future Issuance

Shares of common stock reserved for future issuance are as follows:

	June 30,		December 31,
	2022		2021
Common stock options issued and outstanding		12,541,406		11,707,568
Pre-funded warrants to purchase common stock		11,111,110		11,111,110
Common stock reserved and available for future grant under the 2014 Equity Incentive Plan		2,864,259		1,500,062
Common stock reserved for issuance under ESPP		3,669,417		2,914,710
Unvested restricted stock units		1,786,869		1,650,250
Total common stock reserved for future issuance		31,973,061		28,883,700

Net Loss Per Share

As of June 30, 2022, potentially dilutive securities excluded from the calculation of diluted net loss per share consist of outstanding options to purchase 12,541,406 shares of the Company’s common stock and 1,786,869 unvested restricted stock units. As of June 30, 2021, potentially dilutive securities excluded from the calculation of diluted net loss per share consist of outstanding options to purchase 11,860,751 shares of the Company’s common stock and 809,750 unvested restricted stock units.

July 2020 Pre-funded Warrants

In July 2020, the Company sold pre-funded warrants to purchase 4,000,000 shares of its common stock with an exercise price of $0.001 per pre-funded warrant, that do not contain an expiration date. During the six months ended June 30, 2022, none of the July 2020 pre-funded warrants were exercised; as of June 30, 2022, all of the July 2020 pre-funded warrants remained issued and outstanding.

April 2021 Pre-funded Warrants

In April 2021, the Company sold pre-funded warrants to purchase 7,111,110 shares of its common stock with an exercise price of $0.001 per pre-funded warrant, that do not contain an expiration date. During the six months ended June 30, 2022, none of the April 2021 pre-funded warrants were exercised; as of June 30, 2022, all of the April 2021 pre-funded warrants remained issued and outstanding.