Common Stock

6 Months Ended

Jun. 30, 2024

Stockholders' Equity Note [Abstract]

Common Stock

7.Common Stock

Pursuant to its certificate of incorporation, the Company is authorized to issue 500.0 million shares of common stock at a par value of $0.0001 per share. As of June 30, 2024, 87,692,916 shares of common stock were issued and outstanding.

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

	June 30, 2024
Common stock options issued and outstanding		12,203,622
Common stock available for future grants		3,716,936
Common stock available for ESPP		2,498,360
Restricted stock units issued and outstanding		1,916,588
Total		20,335,506

June 2023 Follow-On Offering

In June 2023, the Company completed a follow-on offering and issued and sold 13,269,231 shares of common stock (including the exercise by the underwriters of their option to purchase an additional 1,730,769 shares of common stock) at a price to the public of $13.00 per share for net proceeds of approximately $161.4 million, after deducting underwriting discounts, commissions, and offering costs.

At-The-Market Offering

The Company has entered into an equity distribution agreement, or the Equity Distribution Agreement, with Piper Sandler & Co. and JonesTrading Institutional Services LLC, as sales agents, relating to the issuance and sale of shares of the Company’s common stock for an aggregate offering price of up to $250.0 million under an at-the-market offering program, or the ATM. The Company has no obligation to sell any shares and could at any time suspend solicitations and offers under the ATM. No shares of the Company’s common stock have been sold under the ATM as of June 30, 2024.