Liquidity	9 Months Ended
Sep. 30, 2024
Cash and Cash Equivalents [Abstract]
Liquidity	Note 2. Liquidity The Company used $45.1 million of cash in its operating activities and had a net loss of $119.9 million during the nine months ended September 30, 2024 and has an accumulated deficit of $396.3 million at September 30, 2024 resulting from having incurred losses since its inception. The Company had $48.4 million of cash and cash equivalents on hand, $208.4 million of marketable securities and $27.9 million of long-term marketable securities on September 30, 2024. The Company has financed its operations principally through issuance of equity securities. On May 9, 2024, the Company closed an underwritten public offering of 3,450,000 shares of its common stock at a public offering price of $46.00 per share, which included the exercise in full by the underwriters of their option to purchase additional shares. The gross proceeds of the public offering were $158.7 million, before deducting the underwriter discount and other offering expenses, totaling approximately $9.7 million. On July 19, 2024, the Company entered into an Open Market AgreementSM (the "Sales Agreement") with Jefferies LLC, as sales agent ("Jefferies"), pursuant to which the Company may offer and sell, from time to time, through Jefferies shares of its common stock having an aggregate offering price of up to $150,000,000. In December 2022, the Company entered into a Securities Purchase Agreement providing for the sale of up to $60.0 million in warrants (Tranche A and Tranche B) and the common stock issuable upon the exercise thereof. Cumulative to date through September 30, 2024, the Company has received $10.0 million from the sale of these warrants and $37.7 million in proceeds from the exercise of certain of these warrants. Warrants with an aggregate exercise price of $12.3 million are still outstanding. The Company expects to continue incurring losses for the foreseeable future. However, the Company expects that its current cash, cash equivalents and marketable securities balances will be sufficient to enable the Company to meet its obligations for at least the next twelve months from the date of this filing.

Liquidity

9 Months Ended

Sep. 30, 2024

Cash and Cash Equivalents [Abstract]

Note 2. Liquidity

The Company used $45.1 million of cash in its operating activities and had a net loss of $119.9 million during the nine months ended September 30, 2024 and has an accumulated deficit of $396.3 million at September 30, 2024 resulting from having incurred losses since its inception. The Company had $48.4 million of cash and cash equivalents on hand, $208.4 million of marketable securities and $27.9 million of long-term marketable securities on September 30, 2024.

The Company has financed its operations principally through issuance of equity securities. On May 9, 2024, the Company closed an underwritten public offering of 3,450,000 shares of its common stock at a public offering price of $46.00 per share, which included the exercise in full by the underwriters of their option to purchase additional shares. The gross proceeds of the public offering were $158.7 million, before deducting the underwriter discount and other offering expenses, totaling approximately $9.7 million. On July 19, 2024, the Company entered into an Open Market AgreementSM (the "Sales Agreement") with Jefferies LLC, as sales agent ("Jefferies"), pursuant to which the Company may offer and sell, from time to time, through Jefferies shares of its common stock having an aggregate offering price of up to $150,000,000.

In December 2022, the Company entered into a Securities Purchase Agreement providing for the sale of up to $60.0 million in warrants (Tranche A and Tranche B) and the common stock issuable upon the exercise thereof. Cumulative to date through September 30, 2024, the Company has received $10.0 million from the sale of these warrants and $37.7 million in proceeds from the exercise of certain of these warrants. Warrants with an aggregate exercise price of $12.3 million are still outstanding.

The Company expects to continue incurring losses for the foreseeable future. However, the Company expects that its current cash, cash equivalents and marketable securities balances will be sufficient to enable the Company to meet its obligations for at least the next twelve months from the date of this filing.