Net Loss Per Share

9 Months Ended

Sep. 30, 2024

9. 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):


	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2024			2023			2024			2023
Numerator:
Net loss	$	(29,887	)	$	(22,997	)	$	(91,690	)	$	(69,605	)
Denominator:
Weighted-average common shares outstanding, basic and diluted		118,700,362			94,829,844			109,035,938			55,711,252
Net loss per share, basic and diluted	$	(0.25	)	$	(0.24	)	$	(0.84	)	$	(1.25	)

The 65,587,945 shares of the Company's common stock issuable upon exercise of the Pre-Funded Warrants described in Note 5 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:


	September 30,
	2024		2023
Options to purchase common stock		12,426,235		10,518,779
Common stock issuable upon conversion of Loan Agreement		6,269,592		6,269,592
Potential shares issuable under the ESPP		89,128		-
Total		18,784,955		16,788,371