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Net Loss Per Share
12 Months Ended
Dec. 31, 2023
Earnings Per Share [Abstract]  
Net Loss Per Share

13. Net Loss Per Share

Net Loss Per Share

Basic and diluted net loss per share was calculated as follows (in thousands, except share and per share data):

 

 

 

Year Ended

 

 

 

December 31,

 

 

 

2023

 

 

2022

 

Numerator:

 

 

 

 

 

 

Net loss

 

$

(89,218

)

 

$

(66,221

)

Denominator:

 

 

 

 

 

 

Weighted-average common shares outstanding, basic and diluted

 

 

65,599,858

 

 

 

24,048,267

 

Net loss per share, basic and diluted

 

$

(1.36

)

 

$

(2.75

)

 

The 47,010,526 shares of the Company's common stock issuable upon exercise of the Pre-Funded Warrants described in Note 6 are included as outstanding common stock in the calculation of basic and diluted net loss per share.

The Company has two classes of common stock, each with identical participation rights to earnings and liquidation preferences, and therefore the calculation of net loss per share as described above is identical to the calculation under the two-class method. The Company excluded the following potential common shares from the computation of diluted net loss per share for the periods indicated because including them would have had an anti-dilutive effect:

 

 

 

December 31,

 

 

 

2023

 

 

2022

 

Options to purchase common stock

 

 

10,398,250

 

 

 

5,230,537

 

Common stock issuable upon conversion of Loan Agreement

 

 

6,269,592

 

 

 

2,116,780

 

Total

 

 

16,667,842

 

 

 

7,347,317