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 |
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