Net Loss Per Share

6 Months Ended

Jun. 30, 2025

Note 12. Net Loss Per Share

Basic and diluted net loss per common share is determined by dividing the net loss by the weighted-average common shares outstanding during the period, as follows (net loss in thousands):


	Three Months Ended June 30,						Six Months Ended June 30,
	2025			2024			2025			2024
Numerator:
Net loss	$	(16,049	)	$	(27,729	)	$	(31,079	)	$	(38,878	)
Denominator:
Weighted average common shares outstanding		46,686,239			43,096,374			45,314,234			43,053,351
Net loss per share, basic and diluted	$	(0.34	)	$	(0.64	)	$	(0.69	)	$	(0.90	)

The following outstanding potentially dilutive shares have been excluded from the calculation of diluted net loss per share for the periods presented because including them would have been antidilutive:


	June 30,
	2025		2024
Stock options issued and outstanding		12,799,907		9,966,824
Common Warrants		8,671,928		—
Pre-Funded Warrants		2,000,000		—
Restricted stock awards		29,745		127,090
Total		23,501,580		10,093,914