Net Loss Per Share

6 Months Ended

Jun. 30, 2024

12. Net Loss Per Share

Net Loss Per Share

The following table sets forth the calculation of basic and diluted net loss per share during the periods presented (in thousands, except share and per share data):


	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Numerator:
Net loss	$	(21,547	)	$	(24,308	)	$	(43,205	)	$	(46,507	)
Denominator:
Weighted-average shares of common stock outstanding		72,845,869			72,461,850			72,822,890			72,395,410
Net loss per share, basic and diluted	$	(0.30	)	$	(0.34	)	$	(0.59	)	$	(0.64	)

Basic net loss per common share is calculated by dividing net loss by the weighted-average number of shares of common stock and pre-funded warrants outstanding during the period, without consideration of common share equivalents. Diluted net loss per common share is computed by dividing net loss by the weighted-average number of shares of common stock, pre-funded warrants and common share equivalents outstanding for the period. The pre-funded warrants were included in the computation of basic and diluted net loss per common share as the exercise price was negligible and the pre-funded warrants were fully vested and exercisable. Common share equivalents are only included in the calculation of diluted net loss per common share when their effect is dilutive.

Potential dilutive securities, which include, vested and unvested options to purchase common stock and RSUs subject to future vesting have been excluded from the computation of diluted net loss per share as the effect is antidilutive. Therefore, the denominator used to calculate both basic and diluted net loss per common share is the same in all periods presented.

The following outstanding shares of common stock equivalents were excluded from the computation of the diluted net loss per share for the periods presented because their effect would have been anti-dilutive:


	Three and Six Months Ended June 30,
	2024		2023
Stock options to purchase common stock		15,256,582		12,962,005
Restricted stock units subject to future vesting		185,416		433,611
Total		15,441,998		13,395,616