Net Loss per Share

12 Months Ended

Dec. 31, 2023

12. Net Loss per Share

Basic and diluted net loss per share attributable to common stockholders was calculated as follows:


	Year Ended December 31,
	2023			2022			2021
Numerator:
Net loss attributable to common stockholders	$	(113,724	)	$	(250,157	)	$	(65,578	)
Denominator:
Weighted average common shares outstanding, basic and diluted		128,003,294			108,077,043			91,702,866
Net loss per share attributable to common stockholders, basic and diluted	$	(0.89	)	$	(2.31	)	$	(0.72	)

Anti-dilutive potential common stock equivalents excluded from the calculation of net loss per share:
Stock options to purchase common stock		14,844,112			14,940,034			11,517,189
Unvested restricted stock units		3,377,804			1,549,540			734,755
Shares issuable under employee stock purchase plan		297,784			89,593			165,047
Warrants to purchase common stock		1,177,433			—			—

The Company’s potential dilutive securities, which include stock options, unvested restricted common stock and shares issuable under the ESPP, have been excluded from the computation of diluted net loss per share as the effect would be to reduce the net loss per share and therefore been anti-dilutive. Therefore, the weighted average number of common shares outstanding used to calculate both basic and diluted net loss per share attributable to common stockholders is the same. Additionally, for the year ended December 31, 2023, the warrants to purchase common stock were excluded because the exercise price of the Tranche A Warrants is greater than the average fair value of the Company's common shares, and the necessary conditions for exercise of the Tranche B and Tranche C Warrants had not been met.