Net Loss per Share

3 Months Ended

Mar. 31, 2024

11. Net Loss per Share

Basic and diluted net loss per share attributable to common stockholders was calculated as follows (in thousands, except share and per share data):


	Three Months Ended March 31,
	2024			2023
Numerator:
Net loss attributable to common stockholders	$	(40,133	)	$	(71,174	)
Denominator:
Weighted-average shares outstanding, basic and diluted		146,101,581			125,862,975
Net loss per share attributable to common stockholders, basic and diluted	$	(0.27	)	$	(0.57	)

Anti-dilutive potential common stock equivalents excluded from the calculation of net loss per share:
Stock options to purchase common stock		19,158,617			16,826,144
Unvested restricted stock units		4,152,725			4,215,834
Shares issuable under employee stock purchase plan		75,488			68,594
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 2015 Employee Stock Purchase Plan, 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 be 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 three months ended March 31, 2024, 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.