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Common Stock Warrants
 12 Months Ended
Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Common Stock Warrants COMMON STOCK WARRANTS
Q2 2022 PIPE Warrants
In connection with its issuance of common stock and prefunded warrants in a private placement that closed on July 6, 2022, the Company issued warrants to purchase an aggregate of 50,925,365 warrants (the “Warrants”) for the purchase of shares of common stock. Each Warrant has an exercise price equal to $1.095 per share and will expire on the date that is 60 months from their original issue date.
Class C Warrants
In connection with its issuance of common stock in public offerings that closed on December 9, 2022, the Company issued 65,525,894 Class C warrants, which are exercisable at two Class C warrants for one share of the Company’s common stock or prefunded warrants to purchase shares of the Company’s common stock. The Class C warrants have an exercise price of $1.50 per set of two Class C warrants, expire on December 9, 2027 and were immediately exercisable upon issuance.

Pre-funded Warrants
In connection with the sale of its common stock in public offerings and private placements, the Company has issued pre-funded warrants to purchase shares of its common stock. The price per pre-funded warrant represents the price per share sold in the public offering or private placement, minus a nominal exercise price of either $0.001 or $0.01 per share, in accordance with the applicable pre-funded warrant agreement. The pre-funded warrants are exercisable, subject to certain beneficial ownership restrictions, at any time after their original issuance and will not expire.
The following table provides a roll forward of outstanding warrants and pre-funded warrants for the purchase of shares of the Company’s common stock for the three years ended December 31, 2024:

Number of warrants

Weighted
Average
Exercise
Price

Weighted
Average
Contractual
Term (Years)
Outstanding and exercisable as of December 31, 202113,257,160 

$7.96 

2.72
Issued104,531,257 
Exercised(500,100)
Expired(5,416,567)
Outstanding and exercisable as of December 31, 2022111,871,750 $1.86 4.53
Issued8,263,157 
Exercised(7,475,814)
Outstanding and exercisable as of December 31, 2023112,659,093 $1.88 3.53
Expired(3,866,154)$13.20 
Outstanding and exercisable as of December 31, 2024108,792,939 $1.48 2.69
As of December 31, 2024, the Company’s outstanding warrants and pre-funded warrants to purchase shares of common stock consisted of the following:
Issuance Date

Number of Shares of Common
Stock Issuable

Exercise
Price

Expiration Date
October 25, 20165,155 

$19.78 

October 24, 2026
December 28, 2017115,916 

$19.78 

December 28, 2027
September 12, 201820,220 

$19.78 

September 12, 2028
October 19, 201820,016 

$19.78 

October 19, 2028
March 18, 20195,000 

$19.78 

March 17, 2029
November 29, 20191,250,000 $12.00 (a)n/a
March 23, 202150,000 $8.70 (b)n/a
November 9, 20212,008,032 $4.98 (c)n/a
March 3, 2022766,666 $1.80 (d)n/a
July 6, 202213,276,279 $1.095 (e)n/a
July 6, 202244,075,050 $1.095 July 6, 2027
December 9, 202232,137,448 $1.50 December 9, 2027
December 9, 20226,800,000 $1.10 (f)n/a
May 18, 20238,263,157 $1.52 (g)n/a

108,792,939 


(a) In November 2019, the Company received $11.999 per pre-funded warrant, or $21.0 million in aggregate proceeds. Each pre-funded warrant may be exercised for an additional $0.001 per pre-funded warrant; (b) In March 2021, the Company received $8.69 per pre-funded warrant, or $435 thousand in aggregate proceeds. Each pre-funded warrant may be exercised for an additional $0.01 per pre-funded warrant; (c) In November 2021, the Company received $4.97 per pre-funded warrant, or $10.0 million in aggregate proceeds. Each pre-funded warrant may be exercised for an additional $0.01 per pre-funded warrant; (d) In March 2022, the Company received $1.79 per pre-funded warrant, or $1.40 million in aggregate proceeds. Each pre-funded warrant may be exercised for an additional $0.01 per pre-funded warrant; (e) In July 2022, the Company received $1.094 per pre-funded warrant, or $14.5 million in aggregate proceeds. Each pre-funded warrant may be exercised for an additional $0.001 per pre-funded warrant; and (f) In December 2022, the Company received $1.099 per pre-funded warrant, or $7.5 million in aggregate proceeds. Each pre-funded warrant may be exercised for an additional $0.001 per pre-funded warrant; and (g) In May 2023, the Company received $1.519 per prefunded warrant, or $12.6 million in aggregate proceeds. Each pre-funded warrant may be exercised for an additional $0.001 per pre-funded warrant.