Loss Per Share

9 Months Ended

Sep. 30, 2024

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


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Net loss	$	(14,228)	$	(15,712)	$	(48,158)	$	(43,510)

Weighted average shares outstanding(1)
Basic and diluted	24,058,560		20,195,402		22,619,146		20,102,136


Loss per common share, basic and diluted(1)	$	(0.59)	$	(0.78)	$	(2.13)	$	(2.16)

(1)Shares and per common share amounts for September 30, 2023, have been adjusted to reflect the 1-for-10 reverse stock split effectuated on 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.

Due to the Company’s net loss during both the three and nine months ended September 30, 2024 and 2023, 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):


	September 30,
	2024	2023(1)
Shares upon exercise of warrants	9,069	9,069
Restricted stock units	681	613
Total	9,750	9,682