Net Loss per Share

3 Months Ended

Mar. 31, 2026

17. Net Loss per Share

Basic net loss per share is computed by dividing net loss by the weighted-average number of shares of common stock outstanding, including the shares of common stock underlying the pre-funded warrants, for the three months ended March 31, 2026. Shares of common stock issuable upon exercise of the pre-funded warrants are considered outstanding for the purposes of computing basic net loss per share because the shares may be issued for little or no consideration, are fully vested and are exercisable after the original issuance date.

In computing diluted net loss per share, only potential shares of common stock that are dilutive are included. For the three months ended March 31, 2026 and 2025, the Company’s potentially dilutive securities, which include stock options, RSUs, warrants and pre-funded warrants have been excluded from the computation of diluted net loss per share as the effect would be to reduce the net loss per share.


	Three Months Ended March 31,
(in thousands, except per share amounts)	2026			2025
Numerator:
Net loss-basic	$	(7,609	)	$	(11,031	)
Net loss-diluted	$	(7,609	)	$	(11,031	)
Denominator:
Weighted-average common shares outstanding-basic		14,095,371			12,197,615
Dilutive securities		—			—
Weighted-average common shares outstanding-diluted		14,095,371			12,197,615

Net loss per share-basic	$	(0.54	)	$	(0.90	)
Net loss per share-diluted	$	(0.54	)	$	(0.90	)

The Company excluded the following from the computation of diluted net loss per share attributable to common stockholders because including them would have had an anti-dilutive effect:


	Three Months Ended March 31,
	2026		2025
Options to purchase common stock		2,264,082		1,938,015
Restricted stock units		599,326		467,150
Warrants to purchase common stock		18,144		18,144
Pre-funded warrants to purchase common stock		1,025,654		—