Stockholder's Equity

12 Months Ended

Dec. 31, 2021

Stockholders Equity Note [Abstract]

Stockholder's Equity

6. Stockholder’s Equity

Common Stock

The holders of the Company’s common stock have one vote for each share of common stock. Common stockholders are entitled to dividends when, as, and if declared by the Board of Directors. The holders have no preemptive or other subscription rights and there are no redemption or sinking fund provisions with respect to such shares. As of December 31, 2021, no dividends had been declared by the Board of Directors.

The Company reserved the following shares of common stock for issuance as follows:

	December 31,
	2021		2020
Options issued and outstanding		5,662,824		3,909,873
Reserve for 2020 Incentive Plan		2,039,951		2,707,947
Unvested restricted stock units outstanding		50,000		—
Common stock reserved for 2021 ATM program		5,265,929		—
Reserved for employee stock purchase plan		729,775		360,086
Total common stock reserved		13,748,479		6,977,906

At-the-Market Offering

In August 2021, the Company entered into a sales agreement with Cowen and Company LLC, or Cowen, as sales agent, pursuant to which the Company may issue and sell shares of its common stock for an aggregate maximum offering price of $100.0 million under an at-the-market offering program, or 2021 ATM program. The Company will pay Cowen up to 3% of gross proceeds for the common stock sold through the 2021 ATM program. As of December 31, 2021, no shares of common stock have been sold under the 2021 ATM program.