Net Loss Per Share

12 Months Ended

Dec. 31, 2024

Net Loss Per Share

Net Loss Per Share

11. Net Loss Per Share

The weighted average number of shares of common stock used in the basic and diluted net loss per share calculation includes the prefunded warrants issued in connection with the Company’s private placements with certain existing investors and Gilead, as the prefunded warrants are exercisable at any time for nominal cash consideration. As of December 31, 2024, no prefunded warrants have been exercised and 25,602,707 prefunded warrants are outstanding.

The following table sets forth the outstanding common stock equivalents, presented based on amounts outstanding at each period end, that were excluded from the calculation of diluted net loss per share for the periods indicated because including them would have been anti-dilutive.

	Year Ended
	December 31,
	2024	2023
Unvested restricted common stock	—	5,617
Unvested restricted stock units	445,500	—
Outstanding stock options	8,333,932	7,455,795
Warrants	2,631	2,631
Unvested employee stock purchase plan shares	46,735	68,642
Total common stock equivalents	8,828,798	7,532,685