Common Stock

6 Months Ended

Jun. 30, 2024

Equity [Abstract]

Common Stock

7. Common Stock

The Company is authorized to issue up to 700,000,000 and 493,530,000 shares of common stock at June 30, 2024 and December 31, 2023, respectively, of which 66,659,852 and 5,222,283 shares were issued and outstanding at June 30, 2024 and December 31, 2023, respectively.

Voting, dividend and liquidation rights of the holders of the common stock are subject to and qualified by the rights, powers and preferences of the holders of the preferred stock.

Voting

Each holder of outstanding shares of common stock shall be entitled to one vote in respect of each share. The holders of outstanding shares of common stock, voting together as a single class, shall be entitled to elect one director. The number of authorized shares of common stock may be increased or decreased by the affirmative vote of a majority of the outstanding shares of common stock and preferred stock voting together as a single class.

Dividends

The holders of common stock shall be entitled to receive dividends out of funds legally available therefor at such times and in such amounts as the board of directors may determine in its sole discretion.

Liquidation Rights

Upon any voluntary or involuntary liquidation, dissolution or winding-up of the Company or deemed liquidation event of the Company, all of the remaining assets of the Company available for distribution to the stockholders shall be distributed among the holders of the common stock, pro rata based on the number of shares held by each such holder.

Reserved Shares

As of June 30, 2024, the Company reserved the following shares of common stock for issuance:

	June 30,
	2024
Stock options outstanding		6,040,339
Reserved for future stock option issuances		7,723,016
Reserved for future ESPP issuances		812,242
Total		14,575,597