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SUBSEQUENT EVENT
9 Months Ended
Sep. 30, 2021
Subsequent Events [Abstract]  
SUBSEQUENT EVENT

17. SUBSEQUENT EVENTS

In October 2021, the Company sold approximately 7.1 million shares of common stock through an underwritten public offering, including 0.9 million shares sold pursuant to the underwriters’ option to purchase additional shares. The offering price was $81.00 per share. The Company expects to receive net proceeds of approximately $548.5 million from the offering, net of underwriting commissions and offering expenses of approximately $26.5 million.

The Company entered into a development, commercial manufacturing and supply agreement in June 2018 and, subsequently, entered into the first and second amendments in May 2019 and July 2020, respectively, with Thermo, formerly Brammer Bio MA, LLC (collectively, the “Thermo Supply Agreements”). On October 1, 2021, the Company entered into its third amendment with Thermo. This amendment primarily modifies the term of the Thermo Supply Agreements, the capacity dedicated to the Company, as well as the payments due over the remaining term of the agreement. The Company continues to have the ability to terminate the agreement prior to the expiration, subject to the payment of additional financial consideration. As of the date of this report, the Company is still assessing the financial impact of this amendment. For more information related to the Thermo Supply Agreements, please read Note 21, Commitments and Contingencies of the Annual Report on the Form 10-K for the year ended December 31, 2020.