Net Loss Per Share

9 Months Ended

Sep. 30, 2020

3. Net Loss Per Share

The following tables summarize the computation of the basic and diluted net loss per share (in thousands except share and per share data):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2020			2019			2020			2019
Numerator:
Net loss	$	(13,693	)	$	(2,668	)	$	(73,464	)	$	(10,589	)
Denominator:
Weighted average common shares outstanding		31,095,610			1,718,510			11,620,515			1,706,784
Less: weighted average unvested common stock issued upon early exercise of common stock options		(114,169	)		(160,618	)		(121,188	)		(171,873	)
Less: weighted average unvested founder shares of common stock		—			(29,382	)		—			(113,029	)
Weighted average shares used to compute net loss per share, basic and diluted		30,981,441			1,528,510			11,499,327			1,421,882
Net loss per share, basic and diluted	$	(0.44	)	$	(1.75	)	$	(6.39	)	$	(7.45	)

The following table summarizes the outstanding potentially dilutive securities that have been excluded in the calculation of diluted net loss per share because their inclusion would be anti-dilutive:

	As of September 30,
	2020		2019
Common stock options		3,564,980		2,153,688
Unvested common stock upon early exercise of common stock options		107,847		153,528
Convertible preferred stock		—		7,374,034
		3,672,827		9,681,250

Immediately prior to the closing of the Company’s IPO on July 14, 2020, all outstanding shares of the Company’s convertible preferred stock converted into 14,689,215 shares of the Company’s common stock.