In August 2020, the SEC declared effective a registration statement on Form S-3 (“Shelf Registration”) covering the sale of up to $300.0 million of the Company’s securities. Also, in August 2020, the Company entered into a sales agreement (“Sales Agreement”) with SVB Securities LLC (“SVB Securities”) pursuant to which the Company may elect to issue and sell, from time to time, shares of common stock having an aggregate offering price of up to $75.0 million under the Shelf Registration through SVB

Securities acting as the sales agent and/or principal. During the six months ended June 30, 2023, the Company issued and sold 658,206 shares of common stock pursuant to the Sales Agreement resulting in gross proceeds to the Company of $15.0 million. The net proceeds to the Company for the six months ended June 30, 2023, after deducting sales commissions to SVB Securities and other issuance expenses were approximately $14.5 million. As of June 30, 2023, the Company has issued and sold an aggregate of 2,125,090 shares of common stock pursuant to the Sales Agreement resulting in aggregate gross proceeds to the Company of $43.7 million. The remaining capacity under the Sales Agreement is approximately $31.3 million as of June 30, 2023.

In August 2022, the Company completed an underwritten public offering of its common stock pursuant to the Shelf Registration. The Company issued and sold 3,478,261 shares of common stock at a public offering price of $23.00 per share. In addition, the Company granted the underwriters an option, exercisable for 30 days, to purchase up to 521,739 additional shares of its common stock at the public offering price, less the underwriting discounts, commissions and offering expenses, which the underwriters exercised in full. The underwritten public offering, including the underwriters’ exercise of their option, resulted in net proceeds to the Company of $86.1 million after deducting underwriting discounts, commissions and offering expenses.

On September 9, 2022, the Company filed an automatic shelf registration statement on Form S-3 with the SEC, which became effective upon filing, pursuant to which the Company registered for sale from time to time in one or more offerings an unlimited amount of any combination of the Company’s common stock, preferred stock, debt securities and warrants, so long as the Company continues to satisfy the requirements of a “well-known seasoned issuer” under SEC rules. This automatic shelf registration statement will remain in effect for up to three years from the date it became effective. As of June 30, 2023, the Company had not issued any securities pursuant to the automatic shelf registration statement.

Common stock reserved for issuance is as follows:


	As of June 30,		As of December 31,
	2023		2022
Stock options, restricted stock units and performance stock units issued and outstanding		10,647,891		8,955,557
Reserved for future stock awards or option grants		1,453,028		1,596,947
Reserved for employee stock purchase plan		1,081,089		1,157,570
Common stock issuable upon conversion of convertible notes		9,964,247		—
Common stock held back in connection with asset acquisition		—		31,638
Common stock issuable as contingent consideration in connection with asset acquisition		—		199,993
		23,146,255		11,941,705