NET LOSS PER COMMON SHARE

9 Months Ended

Sep. 30, 2022

NET LOSS PER COMMON SHARE

NET LOSS PER COMMON SHARE

13. NET LOSS PER COMMON SHARE

Basic net loss per common share is computed by dividing the net loss available to common stockholders by the weighted-average number of shares of common stock outstanding during the period.

Diluted net loss per common share is computed by giving the effect of all potential shares of common stock, including stock options, preferred shares, warrants and instruments convertible into common stock, to the extent dilutive. Basic and diluted net loss per common share was the same for the three and nine months ended September 30, 2022 and 2021, as the inclusion of all potential common shares outstanding would have been anti-dilutive.

The following tables set forth the computation of basic and diluted net loss per common share for the three and nine months ended September 30, 2022 and 2021:

	Three Months Ended
	September 30,
(in thousands, except for share data)	2022		2021
Numerator:
Net loss	$	(19,101)	$	(28,418)
Denominator:
Weighted-average common stock outstanding		48,000,183		26,177,079
Net loss per share attributable to common stockholders - basic and diluted	$	(0.40)	$	(1.09)

	Nine Months Ended
	September 30,
	2022		2021
Numerator:
Net loss	$	(68,079)	$	(78,425)
Denominator:
Weighted-average common stock outstanding		33,785,386		25,472,590
Net loss per share attributable to common stockholders - basic and diluted	$	(2.02)	$	(3.08)

The Company’s potentially dilutive securities, which include restricted stock units, stock options, and 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. 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. The Company excluded the following potential common shares, presented based on amounts outstanding for the nine months ended September 30, 2022 and 2021, from the computation of diluted net loss per share attributable to common stockholders because including them would have had an anti-dilutive effect:

	As of
	September 30,
	2022	2021
Options to purchase common stock	4,925,678	4,542,353
Restricted stock units	533,114	222,693
Warrants to purchase common stock	38,375,618	125,618