Loss Per Common Share

9 Months Ended

Sep. 30, 2020

Basic loss per common share is calculated by dividing net loss by the weighted-average number of shares of common stock outstanding during the period. Diluted loss per common share is calculated using the treasury share method by giving effect to all potentially dilutive securities that were outstanding. Potentially dilutive options and warrants to purchase common stock that were outstanding during the periods presented were excluded from the diluted loss per share calculation for the periods presented because such shares had an anti-dilutive effect due to the net loss reported in those periods. Therefore, basic and diluted loss per common share is the same for each of the three and nine months ended September 30, 2020 and 2019.

The following is the computation of loss per common share for the three and nine months ended September 30, 2020 and 2019:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Net loss	$	(8,822)	$	(5,816)	$	(11,983)	$	(16,322)
Weighted-average basic and diluted common shares outstanding	87,227,136		64,651,040		87,160,520		51,200,072
Basic and diluted loss per common share	$	(0.10)	$	(0.09)	$	(0.14)	$	(0.32)

The outstanding securities presented below were excluded from the calculation of loss per common share for the periods presented, because such securities would have been anti-dilutive due to the Company’s loss per share during that period:


	As of September 30,
	2020	2019
Options to purchase common stock	7,739,781	5,157,419
Warrants to purchase common stock	413,320	413,320