Net Loss Per Common Share

12 Months Ended

Dec. 31, 2024

11.

Net loss per common share:

The following table presents the calculation of basic and diluted net loss per common share for the years ended December 31, 2024, 2023 and 2022:


	Year Ended December 31,
	2024			2023			2022
Numerator:
Net loss	$	(234,330	)	$	(182,393	)	$	(125,373	)
Net loss attributable to preferred shareholders		-			-			(437	)
Net loss attributable to common shareholders	$	(234,330	)	$	(182,393	)	$	(124,936	)
Denominator:
Common shares (weighted average)		75,721,562			64,739,678			57,599,510
Pre-funded warrants (weighted average)		2,173,081			2,149,327			2,942,632
Weighted average common shares outstanding – basic and diluted		77,894,643			66,889,005			60,542,142
Net loss per common share – basic and diluted	$	(3.01	)	$	(2.73	)	$	(2.06	)

The weighted average number of common shares used in the basic and diluted net loss per common share calculations includes the weighted average pre-funded warrants outstanding during the period as they are exercisable at any time for nominal cash consideration (note 9e).

The Company reported net losses for each of the years ended December 31, 2024, 2023 and 2022, and therefore excluded all potentially dilutive outstanding securities from the computation of diluted net loss per common share as their inclusion would have had an anti-dilutive effect.