Net Loss Per Share

9 Months Ended

Sep. 30, 2022

Net Loss Per Share

Net Loss Per Share

13. Net Loss Per Share

The following table presents the calculation of basic and diluted net loss per share of common stock for the periods indicated:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(In thousands, except share and per share data)	2022		2021		2022		2021
	(unaudited)				(unaudited)
Net loss attributable to common shareholders (basic and diluted)	$	(12,520)	$	(12,192)	$	(39,873)	$	(38,282)
Shares used to compute net loss per common share, basic and diluted		106,362,178		45,840,262		81,657,061		44,167,885
Net loss per share attributable to common shareholders, basic and diluted	$	(0.12)	$	(0.27)	$	(0.49)	$	(0.87)

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 three and nine months ended September 30, 2022, and 2021 because their inclusion would be anti-dilutive.

	Nine Months Ended
	September 30,
	2022	2021
	(unaudited)
Options issued and outstanding	2,319,069	2,301,513
Inducement options issued and outstanding	116,449	156,204
Restricted stock units issued and outstanding	3,381,176	1,871
Warrants issued and outstanding	562,847	563,451
Total	6,379,541	3,023,039

As of November 14, 2022, there were 7,377,717 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.