Net Loss Per Share (Tables)

9 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

Schedule of Numerator and Denominator used in Calculation of Basic and Diluted Net Loss Per Common Share

A reconciliation of the numerator and denominator used in the calculation of basic and diluted net loss per common share for the three and six months ended September 30, 2023 and 2022 is as follows:

	For the Three Months Ended September 30, 2023			For the Three Months Ended September 30, 2022			For the Nine Months Ended September 30, 2023			For the Nine Months Ended September 30, 2022
Numerator:
Net loss	$	(14,731,267	)	$	(5,006,945	)	$	(39,102,693	)	$	(16,852,985	)
Denominator:
Basic:
Weighted average shares of common stock outstanding		24,463,726			16,089,019			23,254,253			15,230,839
Diluted:
Weighted average shares of common stock outstanding		24,463,726			16,089,019			23,254,253			15,230,839
Effect of potentially dilutive shares (1)		—			—			—			1,854,945
Total weighted average shares of common stock and potentially dilutive shares		24,463,726			16,089,019			23,254,253			17,085,784
Net loss per common share:
Basic:
Net loss applicable to common stockholders	$	(14,731,267	)	$	(5,006,945	)	$	(39,102,693	)	$	(16,852,985	)
Weighted average shares of stock outstanding, basic		24,463,726			16,089,019			23,254,253			15,230,839
Basic net loss per common share	$	(0.60	)	$	(0.31	)	$	(1.68	)	$	(1.11	)
Diluted:
Net loss applicable to common shareholders, diluted (1)	$	(14,731,267	)	$	(5,006,945	)	$	(39,102,693	)	$	(19,249,985	)
Weighted average shares of stock outstanding, diluted		24,463,726			16,089,019			23,254,253			17,085,784
Diluted net loss per common share	$	(0.60	)	$	(0.31	)	$	(1.68	)	$	(1.13	)

(1) In calculating diluted net loss per share for the nine months ended September 30, 2022, we excluded the impact of changes in the fair value of the Secured Convertible Notes of $2.4 million. The 1,854,945 shares for the nine months ended September 30, 2022 are the weighted average shares associated with the original principal amount of the Secured Convertible Notes.

Schedule of Number of Shares of Common Stock Underlying Potentially Dilutive Securities Excluded From Calculation of Diluted Net Loss Per Share

As of September 30, 2023 and 2022, the number of shares of common stock underlying potentially dilutive securities excluded from the calculation of diluted net loss per share, because the company’s net loss meant that their inclusion would have been antidilutive for those periods, consist of:

	September 30,
	2023		2022
Options to purchase common stock		2,950,099		2,830,475
Shares associated with Marathon Convertible Note		2,400,000		—
March 2023 Offering warrants		2,920,306		—
SWK Warrants		1,000,000		250,000
Total		9,270,405		3,080,475