Capital Structure

12 Months Ended

Dec. 31, 2024

Equity [Abstract]

Capital Structure

Note 5. Capital Structure

Common Stock

As of December 31, 2024 and 2023, the Company was authorized to issue 300,000,000 shares of common stock with a par value of $0.0001 per share and 10,000,000 shares of preferred stock with a par value of $0.0001 per share.

Common stockholders are entitled to dividends when and if declared by the Company’s Board of Directors and after any preferred share dividends are fully paid. The holder of each share of common stock is entitled to one vote. As of December 31, 2024 and 2023, no dividends have been declared.

The Company had reserved common stock for future issuance as follows:

	December 31,
	2024		2023
Stock options, issued and outstanding		9,168,745		7,357,607
Stock options, authorized for future issuance		2,680,934		799,485
Employee stock purchase plan, available for future issuance		583,263		451,886
Restricted stock, issued and outstanding		—		111,920
Total		12,432,942		8,720,898

The stock options authorized for future issuance as of December 31, 2023, exclude the 2,000,000 stock options authorized under the 2023 inducement plan shares on November 17, 2023.