Quarterly report [Sections 13 or 15(d)]

Stockholders’ Equity

v3.26.1
Stockholders’ Equity
 6 Months Ended
Jun. 30, 2026
Equity [Abstract]  
Stockholders’ Equity

7. Stockholders’ Equity

Common Stock

Total common stock authorized to be issued as of June 30, 2026, was 1,000,000,000 shares, with a par value of $0.0001 per share. As of June 30, 2026 and December 31, 2025, there were 20,449,022 and 20,188,160 shares of our common stock outstanding, respectively.

On May 21, 2026, we entered into an Equity Distribution Agreement with The Benchmark Company ("Benchmark") and StoneX Financial, Inc. ("StoneX"), pursuant to which we can offer and sell, from time to time, shares of our common stock, par value $0.0001 per share, for aggregate gross proceeds of up to $15.3 million through Benchmark and StoneX as agents.

During the six months ended June 30, 2026, we did not sell any shares of our common stock under the Equity Distribution Agreement with Benchmark and StoneX.

On June 4, 2024, we entered into an Equity Distribution Agreement with Canaccord Genuity LLC (“Canaccord”), as representative of certain agents, pursuant to which we could offer and sell, from time to time, shares of our common stock, par value $0.0001 per share, for aggregate gross proceeds of up to $120 million, through the agents. Additionally, on November 1, 2024, we entered into an Amended and Restated Equity Distribution Agreement with Canaccord, as representative of certain agents, pursuant to which we increased the aggregate amount of shares of our common stock that we could sell under our at-the-market facility to an aggregate offering price of approximately $171.5 million. On February 9, 2025, the registration statement which registered the shares issuable under the Amended and Restated Equity Distribution Agreement expired and the agreement with Canaccord terminated officially via a Notice of Termination effective May 13, 2026.

During the six months ended June 30, 2025, we sold an aggregate of 14,210 shares of our common stock under our Equity Distribution Agreement with Canaccord for aggregate gross cash proceeds of $0.1 million.