Note 9 - Net Loss Per Share of Common Stock

3 Months Ended

Mar. 31, 2022

Notes to Financial Statements

Earnings Per Share [Text Block]

9. Net loss per share of Common Stock

The following table summarizes the computation of basic and diluted net loss per share of the Company (in thousands, except per share data):

	Three Months Ended
	March 31,
	2022			2021
Net loss	$	(13,057	)	$	(8,004	)
Basic and diluted net loss per share	$	(0.62	)	$	(0.44	)
Weighted-average shares used to compute basic and diluted net loss per share		21,130			18,067

Basic net loss attributable to common stockholders per share is computed by dividing the net loss attributable to common stockholders by the weighted-average number of common shares outstanding for the period. Weighted-average number of common shares outstanding for the period includes the weighted average effect of the Company’s pre-funded warrants issued on March 31, 2022, the exercise of which is not subject to contingencies and requires little or no consideration.  Diluted net loss attributable to common stockholders per share is computed by dividing the net loss attributable to common stockholders by the weighted-average number of common shares and dilutive common stock equivalents outstanding for the period, determined using the treasury-stock method and the as-if converted method, for convertible securities, if inclusion of these is dilutive. Because the Company has reported a net loss for each of the three months ended March 31, 2022 and 2021, the Company did not have dilutive common stock equivalents and therefore diluted net loss per common share is the same as basic net loss per common share for those periods.

The following potentially dilutive securities outstanding at the end of the three months ended March 31, 2022 and 2021 have been excluded from the computation of diluted shares outstanding:

	Three Months Ended
	March 31,
	2022		2021
Options to purchase common stock		3,677,075		2,540,737
Pre-funded warrants to purchase common stock		4,545,455		—
Common stock warrants		4,850,241		—