Stockholders' Equity

9 Months Ended

Sep. 30, 2023

Stockholders' Equity

Stockholders' Equity

(7) Stockholders’ Equity

In May 2016, the Company entered into a controlled equity offering sales agreement (the “Cantor Agreement”) with Cantor Fitzgerald & Co. (“Cantor”) to allow the Company to issue and sell shares of its common stock from time to time through Cantor, acting as agent. At September 30, 2023, the Company had $50.0 million remaining in aggregate gross offering price available under the Company’s November 2020 prospectus.

The changes in Stockholders’ Equity during the three and nine months ended September 30, 2023 and 2022 are summarized below:

						Accumulated
	Common	Common		Additional		Other				Total
	Stock	Stock Par		Paid-In		Comprehensive		Accumulated		Stockholders’
	Shares	Value		Capital		Income		Deficit		Equity
	(In thousands, except share amounts)
Consolidated balance at December 31, 2022	47,200,695	$	47	$	1,580,829	$	1,260	$	(1,255,932)	$	326,204
Shares issued under stock option and employee stock purchase plans	43,986		—		694		—		—		694
Stock-based compensation	—		—		4,340		—		—		4,340
Unrealized gain on marketable securities	—		—		—		863		—		863
Net loss	—		—		—		—		(29,361)		(29,361)
Consolidated balance at March 31, 2023	47,244,681	$	47	$	1,585,863	$	2,123	$	(1,285,293)	$	302,740
Shares issued under stock option and employee stock purchase plans	9,132		—		133		—		—		133
Stock-based compensation	—		—		5,217		—		—		5,217
Unrealized loss on marketable securities	—		—		—		(51)		—		(51)
Net loss	—		—		—		—		(30,502)		(30,502)
Consolidated balance at June 30, 2023	47,253,813	$	47	$	1,591,213	$	2,072	$	(1,315,795)	$	277,537
Shares issued under stock option and employee stock purchase plans	10,384		—		257		—		—		257
Stock-based compensation	—		—		7,121		—		—		7,121
Unrealized gain on marketable securities	—		—		—		63		—		63
Net loss	—		—		—		—		(38,260)		(38,260)
Consolidated balance at September 30, 2023	47,264,197	$	47	$	1,598,591	$	2,135	$	(1,354,055)	$	246,718

						Accumulated
	Common	Common		Additional		Other				Total
	Stock	Stock Par		Paid-In		Comprehensive		Accumulated		Stockholders’
	Shares	Value		Capital		Income		Deficit		Equity
	(In thousands, except share amounts)
Consolidated balance at December 31, 2021	46,730,198	$	47	$	1,561,142	$	1,894	$	(1,143,607)	$	419,476
Shares issued under stock option and employee stock purchase plans	24,150		—		304		—		—		304
Stock-based compensation	—		—		3,153		—		—		3,153
Unrealized loss on marketable securities	—		—		—		(1,782)		—		(1,782)
Net loss	—		—		—		—		(23,050)		(23,050)
Consolidated balance at March 31, 2022	46,754,348	$	47	$	1,564,599	$	112	$	(1,166,657)	$	398,101
Shares issued under stock option and employee stock purchase plans	10,355		—		71		—		—		71
Stock-based compensation	—		—		3,454		—		—		3,454
Unrealized loss on marketable securities	—		—		—		(529)		—		(529)
Net loss	—		—		—		—		(36,004)		(36,004)
Consolidated balance at June 30, 2022	46,764,703	$	47	$	1,568,124	$	(417)	$	(1,202,661)	$	365,093
Shares issued under stock option and employee stock purchase plans	331,360		—		2,306		—		—		2,306
Stock-based compensation	—		—		4,496		—		—		4,496
Unrealized gain on marketable securities	—		—		—		305		—		305
Net loss	—		—		—		—		(26,784)		(26,784)
Consolidated balance at September 30, 2022	47,096,063	$	47	$	1,574,926	$	(112)	$	(1,229,445)	$	345,416