Stockholder's Equity

9 Months Ended

Sep. 30, 2023

Equity [Abstract]

Stockholder's Equity

7. Stockholder’s Equity

On May 15, 2023, the Company filed a certificate of amendment to its amended and restated certificate of incorporation authorizing the Company to issue up to 300,000,000 shares of common stock at a par value of $0.0001 per share and 10,000,000 shares of preferred stock at a par value of $0.0001 per share. There were no shares of preferred stock issued or outstanding at September 30, 2023 and December 31, 2022.

On June 21, 2023, the Company entered into an underwriting agreement with J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and BoFA Securities, Inc., as the representatives of the several underwriters (the “Underwriters”) relating to an underwritten public offering of 20,000,000 shares of its common stock at a public offering price of $3.75 per share, resulting in net proceeds of $70.2 million after deducting underwriting discounts and commissions of $4.5 million and offering costs of $0.3 million. Under the terms of the underwriting agreement, the Company granted the Underwriters an option, exercisable for 30 days, to purchase up to an additional

3,000,000 shares of its common stock at the same price per share as the shares, less underwriting discounts and commissions. On July 21, 2023, the Underwriters option expired.

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

	September 30, 2023		December 31, 2022
Options to purchase common stock		10,445,312		7,922,797
Unvested restricted stock		3,410,391		2,239,106
Stock available for grant under the 2020 Stock Option and Grant Plan		4,178,462		4,253,680
Stock available for issuance under the 2020 Employee Stock Purchase Plan		505,366		454,302
Total		18,539,531		14,869,885