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Common Stock
 3 Months Ended
Mar. 31, 2024
Equity [Abstract]  
Common Stock

6. Common Stock

As of March 31, 2024, the Company had reserved the following shares of common stock for future issuance:

 

Options issued and outstanding under the 2019 Equity Incentive Plan and
   2015 Stock Plan

 

 

5,484,490

 

Shares available for future grants under the 2019 Equity Incentive Plan

 

 

3,009,835

 

Pre-funded warrants issued and outstanding

 

 

4,000,000

 

Shares reserved under the 2019 Employee Stock Purchase Plan

 

 

650,858

 

Total

 

 

13,145,183

 

 

On August 11, 2023, the Company filed a shelf registration statement on Form S-3 with the SEC, which was declared effective on August 17, 2023, related to the sale and issuance of up to $450 million of the Company’s securities, including up to $150 million of shares of common stock that may be offered and sold from time to time in one or more “at-the-market” offerings pursuant to a Controlled Equity OfferingSM Sales Agreement (the “ATM Sales Agreement”) with Cantor Fitzgerald & Co. (“Cantor”) and Leerink Partners LLC. The ATM Sales Agreement replaced the Controlled Equity OfferingSM Sales Agreement dated November 4, 2020 by and among the Company, Cantor and Stifel, Nicolaus & Company, Incorporated (the “Prior ATM Sales Agreement”). During the three months ended March 31, 2024, the Company sold 365,316 shares of common stock in “at-the-market” offerings pursuant to the ATM Sales Agreement for net proceeds of $9.0 million, after deducting commissions and other offering related costs. No shares were sold under the Prior ATM Sales Agreement during the three months ended March 31, 2023. As of March 31, 2024, $140.6 million remained available under the ATM Sales Agreement.