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Stockholders equity
12 Months Ended
Dec. 31, 2023
Equity [Abstract]  
Stockholder's equity Stockholders’ equity
Common stock
In October 2020, the Company authorized preferred stock issuable of 10,000,000 shares and increased its authorized common stock issuable to 150,000,000 shares, both with a $0.0001 par value per share.
The holders of common stock are entitled to one vote for each share held at all meetings of stockholders and written actions in lieu of meetings provided. Subject to full payment of all preferential dividends to which the holders of preferred stock, if any, are entitled, the holders of common stock shall be entitled to receive dividends out of funds legally available. In the event of a liquidation, dissolution, or winding up of the Company, after payment or provision for payment of all debts and liabilities of the Company and all preferential amounts to which the holders of preferred stock, if any, are entitled with respect to the distribution of assets in liquidation, the holders of common stock shall be entitled to share ratably in the remaining assets of the Company available for distribution. The holders of common stock have no preemptive or other subscription rights, and there are no redemption or sinking fund provisions with respect to such stock.
At-The-Market Equity Program
In November 2021, the Company filed an automatically effective registration statement on Form S-3, or the Registration Statement, with the SEC that registers the offering, issuance and sale of an unspecified amount of common stock, preferred stock, debt securities, warrants and/or units of any combination thereof. Simultaneously, the Company entered into an equity distribution agreement with Cowen and Company, LLC, as sales agent, to provide for the issuance and sale by the Company of up to $200.0 million of common stock from time to time in “at-the-market” offerings under the Registration Statement and related prospectus filed with the Registration Statement, or the ATM Program. For the year ended December 31, 2023, 11,186,142 shares for net proceeds of $57.7 million, were settled under the ATM Program. In January 2024, 2,500,601 shares were settled for net proceeds of $14.1 million. Based on the December 2023 and January 2024 activity described above, the Company has sold a total of 13,686,743 shares of its common stock at a average price of $5.42 per share for proceeds, net of commissions and fees, of $71.8 million. No sales were made under the ATM program for the year ended December 31, 2022.