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Warrants
 6 Months Ended
Jun. 30, 2022
Equity [Abstract]  
Warrants
As of June 30, 2022, the following warrants for common stock were issued and outstanding:
Issue dateExpiration dateExercise price Number of warrants outstanding
January 11, 2017None$0.001 3,578,036 
November 20, 2017None$0.001 3,669,360 
June 11, 2018None$0.001 358,415 
7,605,811 
During the three and six months ended June 30, 2022, no warrants were exercised. During the three months ended June 30, 2021, no warrants were exercised. During the six months ended June 30, 2021, 623,821 warrants for shares of the Company’s common stock were exercised via cashless exercise, resulting in the issuance of 623,814 shares of common stock.
Sale of Common Stock    

In November 2021, the Company sold 3,448,275 shares of its common stock at a public offering price of $145.00 per share. After deducting underwriter discounts, commissions and estimated offering expenses, the Company received net proceeds from the transaction of $474.7 million.

At the Market Facility

On July 2, 2020, the Company entered into a sales agreement pursuant to which the Company may, from time to time, sell shares of the Company's common stock, par value $0.001 per share, having an aggregate offering price of up to $200.0 million. On July 2, 2021, the Company entered into an amended and restated sales agreement pursuant to which the Company may, from time to time, sell shares of the Company’s common stock, par value $0.001 per share, having an aggregate offering price of up to $500.0 million. As of June 30, 2022 and 2021, the Company has not offered or sold any shares of common stock pursuant to this sales agreement.

Share-based Compensation

Total share-based compensation expense by statement of operations and comprehensive loss classification is presented below (in thousands):
Three Months Ended June 30,
Six Months Ended June 30,
2022202120222021
Research and development expense$22,807 $16,469 $49,067 $31,003 
General and administrative expense15,877 11,500 32,522 21,688 
$38,684 $27,969 $81,589 $52,691 
    
During the three and six months ended June 30, 2022, 51,264 and 205,836 shares of common stock were issued under the Company’s equity incentive plans, generating net proceeds of $0.4 million and $2.9 million, respectively. During the three and six months ended June 30, 2021, 224,129 and 537,032 shares of common stock were issued under the Company’s equity incentive plans, generating net proceeds of $6.6 million and $16.5 million, respectively.

During the three and six months ended June 30, 2022, 29,891 shares of common stock were issued under the Company's ESPP, generating net proceeds of $1.0 million. During three and six months ended June 30, 2021, 9,029 shares of common stock were issued under the Company's ESPP, generating net proceeds of $1.2 million.