Net Loss per Share

12 Months Ended

Dec. 31, 2022

3. Net Loss per Share

Basic net loss per share is calculated by dividing the net loss by the weighted-average number of shares of common stock outstanding during the period without consideration of dilutive common stock equivalents. Diluted net loss per share is the same as basic net loss per common share, since the effects of potentially dilutive securities are anti-dilutive. Basic and diluted weighted average shares of common stock outstanding for the year ended December 31, 2022 include the weighted average effect of outstanding pre-funded warrants for the purchase of shares of common stock for which the remaining unfunded exercise price is $0.001 per share.

Dilutive common stock equivalents are comprised of unexercised stock options outstanding under the Company’s equity plan, unexercised warrants and unvested restricted stock.

The following table sets forth the computation of basic and diluted net loss per share of common stock (in thousands, except shares and per share data):


	For the year ended
	December 31, 2021			December 31, 2022
Net loss	$	(28,034	)	$	(36,838	)
Weighted—average common shares outstanding, basic and diluted		27,351,730			28,358,502
Net loss per share, basic and diluted	$	(1.02	)	$	(1.30	)

The following table sets forth the outstanding potentially dilutive securities that have been excluded in the calculation of diluted net loss per share because their inclusion would be anti-dilutive (in common stock equivalent shares):


	For the year ended
	December 31, 2021		December 31, 2022
Stock options to purchase common stock		2,662,752		4,008,177
Warrants to purchase common stock		—		516,345
Unvested restricted stock		42,250		—
		2,705,002		4,524,522