Common Stock and Preferred Stock

9 Months Ended

Sep. 30, 2023

Equity [Abstract]

Common Stock and Preferred Stock

Common Stock and Preferred Stock

Common Stock

As of September 30, 2023 and December 31, 2022, the Company’s certificate of incorporation, as amended and restated, authorized the Company to issue 150,000,000 shares of common stock, par value $0.0001 per share.

In February 2023, in connection with the closing of the Vertex Agreement, the Company and Vertex also closed their Stock Purchase Agreement for the sale and issuance of 1,618,613 shares of Entrada's common stock (the “Shares”) to Vertex for an aggregate purchase price of approximately $26.3 million or $16.26 per share. See Note 13, Collaboration and License Agreements, for further discussion of the Company's accounting for the shares sold in connection with the closing of the Vertex Agreement.

In September 2023, the Company entered into a sales agreement (the Sales Agreement) with Cowen and Company, LLC, acting as the Company's agent and/or principal (the Sales Agent), with respect to an "at the market offering" program under which the Company may, from time to time, at its sole discretion, issue and sell shares of its common stock having an aggregate offering price of up to $150.0 million through the Sales Agent. During the three and nine months ended September 30, 2023, there have been no sales of common stock pursuant to the Sales Agreement.

Shares Reserved for Future Issuance

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

	September 30, 2023	December 31, 2022
Exercise of outstanding stock options	5,562,547	5,028,850
Vesting of outstanding restricted stock	1,179,305	463,964
Future awards under the 2021 Stock Option and Incentive Plan	1,707,730	1,976,758
Future awards under the 2021 Employee Stock Purchase Plan	861,286	563,115
Total shares of authorized common stock reserved for future issuance	9,310,868	8,032,687

Preferred Stock

As of September 30, 2023 and December 31, 2022, the Company was authorized to issue 10,000,000 shares of undesignated preferred stock, par value $0.0001 per share, in one or more series and to fix the rights, preferences, privileges and restrictions thereof. As of September 30, 2023 and December 31, 2022, there were no shares of undesignated preferred stock issued or outstanding.