Note 3 - Net Loss Per Share

12 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Earnings Per Share [Text Block]

3. NET LOSS PER SHARE

Basic net loss per share is calculated by dividing net loss by the weighted-average number of shares of common stock outstanding during the period, without consideration for common stock equivalents. Diluted net loss per share is computed by dividing net loss by the weighted-average number of common stock equivalents outstanding for the period determined using the treasury-stock method. For purposes of this calculation, common stock warrants and stock options are considered to be common stock equivalents and are only included in the calculation of diluted net loss per share when their effect is dilutive.

The following table sets forth the computation of basic and diluted net loss and the weighted average number of shares used in computing basic and diluted net loss per share (in thousands, except per share data):

	For the year ended December 31,
	2021			2020
Numerator:
Net loss	$	(22,141	)	$	(82,818	)
Net loss allocated to stockholders of the Company	$	(23,013	)	$	(85,270	)
Denominator:
Weighted-average shares of common stock outstanding used in computing net loss per share, basic and diluted		54,466			36,626
Net loss per share:
Basic and diluted	$	(0.42	)	$	(2.33	)

Due to the net loss, all the outstanding shares of common stock equivalents were excluded from the calculation of diluted net loss per share attributable to common stockholders for the years ended December 31, 2021 and 2020 because including them would have been antidilutive:

	December 31,
	2021		2020
Options to purchase common stock		5,977,179		4,433,392
Warrants for common stock		15,928,867		16,290,067
Total potential dilutive shares		21,906,046		20,723,459