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Net Loss Per Share
 12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Net Loss Per Share Net loss per share
The computation of basic net loss per share is based on the weighted-average number of our common shares outstanding during the period. The computation of diluted net loss per share is based on the weighted-average number of our common shares and dilutive potential common shares, which primarily include shares that may be issued under our stock option, RSU, and Employee Stock Purchase Plans ("ESPP") (collectively, "dilutive securities") as determined under the treasury stock method.
The following table sets forth the computation of basic and diluted net loss per share (in millions, except per share data):
Year Ended December 31,
202520242023
Net loss (Numerator):
Net loss$(353)$(283)$(307)
Weighted-average shares (Denominator):
Weighted-average shares for basic and diluted EPS107.4 90.1 74.0 
Net loss per share
Basic and diluted$(3.29)$(3.14)$(4.15)
The following table summarizes potentially dilutive securities excluded from the computation of diluted net loss per share calculations because they would have been antidilutive (in millions):
At December 31,
202520242023
Common stock options issued and outstanding16.9 15.5 13.5 
Restricted stock units issued2.9 2.2 1.5 
Employee Stock Purchase Plan shares0.5 0.3 0.3 
Total potential dilutive securities20.3 18.0 15.3 
We have also excluded the effect of Gilead’s right to purchase additional shares of our common stock, which expired in July 2025, from the calculation as these rights had no intrinsic value at December 31, 2024 or 2023.