Net Loss Per Share Attributable to Common Stockholders

12 Months Ended

Dec. 31, 2020

Net Loss Per Share Attributable to Common Stockholders

Net Loss Per Share Attributable to Common Stockholders

12. Net Loss Per Share Attributable to Common Stockholders

The following table presents the calculation of basic and diluted net loss per common share for the years ended December 31, 2020 and 2019:

	Years Ended December 31,
(In thousands, except share and per share data)	2020		2019
Net loss attributable to common shareholders (basic and diluted)		(38,648)	$	(44,726)
Shares used to compute net loss per common share, basic and diluted		38,642,650		4,965,337
Net loss per share attributable to common shareholders, basic and diluted	$	(1.00)	$	(9.01)

Basic net loss per share is calculated by dividing net loss by the weighted-average number of common shares outstanding during the period. Diluted net loss per share is computed by dividing net loss by the weighted-average number of common shares and common share equivalents outstanding for the period. Common stock equivalents are only included when their effect is dilutive. The Company's potentially dilutive securities which include stock options, convertible preferred stock, RSUs and common stock warrants have been excluded from the computation of diluted net loss per share as they would be anti-dilutive. For all periods presented, there is no difference in the number of shares used to compute basic and diluted shares outstanding due to the Company's net loss position.

The following outstanding common stock equivalents have been excluded from diluted net loss per common share for the years ended December 31, 2020 and 2019 because their inclusion would be anti-dilutive:

	December 31,
	2020	2019
Options issued and outstanding	4,456,748	3,902,675
Inducement options issued and outstanding	114,892	74
Restricted stock units issued and outstanding	5,613	5,613
Warrants issued and outstanding	7,205,454	19,421,892
Series A convertible preferred stock	—	473,565
Series B convertible preferred stock	—	985,500
Series B-2 convertible preferred stock	—	1,931,350
Total	11,782,707	26,720,669

As of March 31, 2021 there were 13,884,190 shares of common stock issued after the balance sheet date. Including these shares will have a material effect on the diluted net loss per common share in future periods.