Loss Per Share

12 Months Ended

Dec. 31, 2023

Net loss per share calculations for all periods have been adjusted to reflect the Company’s 1-for-10 reverse stock split effectuated November 14, 2023. Basic and diluted net loss per share is computed by dividing the net loss for the period by the weighted average number of shares of common stock outstanding during the period.

The table below summarizes the Company’s basic and diluted loss per share calculations (in thousands, except share and per share amounts):


	Year Ended December 31,
		2023		2022
Net loss		$	(55,024)	$	(60,828)

Weighted average shares outstanding
Basic		21,113,516		16,977,306
Diluted		21,113,516		16,977,306

Basic loss per common share		$	(2.61)	$	(3.58)
Diluted loss per common share		$	(2.61)	$	(3.58)

Due to the Company’s net loss during the years ended December 31, 2023 and 2022, respectively, there was no dilutive effect of common stock equivalents because the effects of such would have been anti-dilutive. The following table summarizes the shares excluded from the weighted average number of shares of common stock outstanding, as the impact would be anti-dilutive (in thousands):


	Year Ended December 31,
	2023	2022
Shares after conversion of warrants	9,069	9,069
Restricted stock units	607	355
Total	9,676	9,424