Equity

9 Months Ended

Sep. 30, 2022

Equity

Equity

9. Equity

Preferred stock

The Company has authorized preferred stock amounting to 10,000,000 shares as of September 30, 2022 and December 31, 2021, respectively.

Common stock

As of September 30, 2022, the Company’s certificate of incorporation, as amended and restated, authorized the Company to issue 500,000,000 shares of $0.0001 par value common stock.

Each share of common stock entitles the holder to one vote on all matters submitted to a vote of the Company’s stockholders. Common stockholders are entitled to receive dividends, as may be declared by the board of directors, if any. No dividends have been declared or paid by the Company since its inception.

At-the-Market Offering

In July 2022, the Company entered into a Sales Agreement (the “Sales Agreement”) with Cowen and Company, LLC (“Cowen”), under which the Company may offer and sell, from time to time, shares of common stock having aggregate gross proceeds of up to $50.0 million (the “ATM Shares”). As of September 30, 2022, the Company has not sold any shares under the Sales Agreement.