Net Loss per Share

12 Months Ended

Dec. 31, 2019

Net Loss per Share

Basic and diluted net loss per share attributable to common stockholders was calculated as follow:


	Year Ended December 31,
(in thousands, except per share data)	2019		2018		2017
Numerator:
Net loss	$	(52,807)	$	(33,285)	$	(21,994)
Accruing dividends on Series A convertible preferred stock	(592)		(3,000)		(3,000)
Adjustment to accumulated deficit in connection with repurchase of Series Seed convertible preferred stock	—		(22)		—
Net loss attributable to common stockholders	$	(53,399)	$	(36,307)	$	(24,994)
Denominator:
Weighted average shares of common stock—basic and diluted	11,530		459		458
Net loss per share attributable to common stockholders— basic and diluted	$	(4.63)	$	(79.15)	$	(54.58)

The Company has included 107,371 shares of redeemable common stock in its computation of basic and diluted weighted average shares of common stock outstanding for the years ended December 31, 2019, 2018 and 2017 as this class of stock participates in losses similarly to other common stockholders. Basic and diluted weighted average shares of common stock outstanding for the year ended December 31, 2019 also includes the weighted average effect of 2,130,000 and 1,750,000 prefunded warrants for the purchase of shares of common stock, which were issued in April 2019 and November 2019, respectively, and for which the remaining unfunded exercise price is less than $0.001 per share.

The Company’s potentially dilutive securities included outstanding stock options, convertible preferred stock, and warrants to purchase shares of convertible preferred stock for the year ended December 31, 2018 and included outstanding stock options and warrants to purchase common stock for the year ended December 31, 2019. These potentially dilutive securities have been excluded from the computation of diluted net loss per share as the effect would be to reduce the net loss per share, and thus they are considered “anti-dilutive.” Therefore, the weighted average number of common shares outstanding used to calculate both basic and diluted net loss per share attributable to common stockholders is the same. The Company excluded the following potential shares of common stock, presented based on amounts outstanding at each period end and adjusted for the Exchange Ratio and Reverse Stock Split, from the computation of diluted net loss per share attributable to common stockholders for the periods indicated because including them would have had an anti-dilutive effect:


	Year Ended December 31,
	2019	2018	2017
Options to purchase common stock and unvested restricted stock units	1,398,802	798,311	474,282
Convertible preferred stock (as converted to common stock)	—	3,808,894	3,613,069
Warrants to purchase common stock (excluding prefunded warrants, which are included in basic shares outstanding)	9,776,871	489,079	423,567
	11,175,673	5,096,284	4,510,918