2 unchanged sentences
Prior to that date, there was no public trading market for our common stock.
−Removed: On March 25, 2022, there were 104 holders of record of our common stock.
+Added: On February 24, 2023, there were 63 holders of record of our common stock.
The number of record holders is based upon the actual number of holders registered on our books at such date and does not include holders of shares in “street names” or persons, partnerships, associations, corporations or other entities identified in security position listings maintained by depository trust companies.
2 unchanged sentences
Any future determination to pay dividends will be at the discretion of our board of directors.
+Added: Stock Performance Graph
+Added: The following stock performance graph compares the value of an investment in (i) our common stock, (ii) Nasdaq Composite Index and (iii) Nasdaq Biotechnology Index for the period from June 17, 2021 (the date our common stock commenced trading on the Nasdaq Global Select Market) through December 31, 2022.
+Added: The figures represented below assume an investment of $100 in our common stock at the closing price on June 17, 2021 and in the Nasdaq Composite Index and Nasdaq Biotechnology Index on June 17, 2021 and the reinvestment of any dividends into shares of common stock.
+Added: However, no dividends have been declared on our common stock to date.
+Added: The comparisons in the table are required by the Securities and Exchange Commission and are not intended to forecast or be indicative of possible future performance of our common stock.
+Added: The above Stock Performance Graph and related information shall not be deemed “soliciting material” or to be “filed” with the Securities and Exchange Commission nor shall such information be incorporated by reference into any
+Added: future filing under the Securities Act or the Exchange Act, each as amended, except to the extent that we specifically incorporate it by reference into such filing.
Unregistered Sales of Equity Securities
1 unchanged sentence
Use of Proceeds from our Initial Public Offering of Common Stock
−Removed: In June 2021, we closed an initial public offering (IPO) and issued and sold 25,000,000 shares of our common stock, at a public offering price of $17.00 per share, for net proceeds of $391.8 million, after deducting underwriting discounts and commissions of $29.8 million and offering expenses of $3.4 million.
−Removed: All of the shares issued and sold in the IPO were registered under the Securities Act pursuant to a Registration Statement on Form S-1 (File No.
−Removed: 333-256470), which was declared effective by the SEC on June 16, 2021.
+Added: In June 2021, we completed our initial public offering (IPO), pursuant to which we issued and sold 25,000,000 shares of our common stock at price to the public of $17.00 per share.
+Added: The shares were registered pursuant to a registration statement on Form S-1 (File No.
+Added: 333-256470) that was declared effective on June 16, 2021.
+Added: As a result of our IPO, we raised a total of approximately $391.8 million in net proceeds after deducting underwriting discounts and commissions of $29.8 million and offering expenses of $3.4 million.
Goldman Sachs & Co.
−Removed: LLC, BofA Securities, Inc., J.P.
−Removed: Morgan Securities LLC and Morgan Stanley & Co.
−Removed: LLC, acted as joint bookrunning managers of the IPO and as representatives of the underwriters.
−Removed: No offering expenses were paid directly or indirectly to any of our directors or officers (or their associates) or persons owning 10.0% or more of any class of our equity securities or to any other affiliates.
+Added: LLC, BofA Securities, J.P.
+Added: Morgan and Morgan Stanley acted as joint book-running managers for the IPO.
+Added: Upon receipt, the net proceeds from our IPO were held in cash, cash equivalents and investments.
+Added: No payments were made from our net proceeds directly or indirectly to our officers or directors, to persons owning 10% or more of any class of our equity securities or to any of our affiliates, other than payments in the ordinary course of business to officers for salaries and to non-employee directors as compensation for services on our board.
We are holding a significant portion of the balance of the net proceeds from the offering in money market funds and short-term investments.
−Removed: There has been no material change in the planned use of proceeds from the IPO from that described in the prospectus filed with the SEC pursuant to Rule 424(b)(4) under the Securities Act on May 25, 2021.
+Added: The proceeds from the IPO have been used to fund ongoing operations, including the development of our product candidates and our clinical trials and research programs, and for working capital and general corporate purposes.
+Added: There has been no material change in the planned use of proceeds from the IPO from that described in the prospectus filed with the SEC pursuant to Rule 424(b)(4) under the Securities Act on June 21, 2021 (the Prospectus).
+Added: We cannot predict with certainty all of the particular uses for the net proceeds from our IPO, or the amounts that we will actually spend on the uses set forth in the Prospectus and above.
+Added: The amounts and timing of our actual use of the net proceeds will vary depending on numerous factors, including our ability to access additional financing, the relative success and cost of our research, nonclinical and clinical development programs and whether we are able to enter into future collaboration and licensing arrangements.
+Added: As a result, our management will continue to have broad discretion in the application of the net proceeds, and investors will be relying on our judgment regarding the application of the net proceeds from our IPO.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.