Net Loss Per Share

12 Months Ended

Dec. 31, 2021

4. Net Loss Per Share

Basic net loss per share is calculated by dividing net loss by the weighted average number of common shares outstanding during the period. Diluted net loss per share is calculated by dividing net loss by the sum of the weighted average number of common shares and potentially dilutive securities outstanding during the period using the treasury stock method. For the periods in which the Company incurs a net loss, the effect of the Company’s outstanding common stock equivalents is not included in the calculation of diluted net loss per share as the effect would be anti-dilutive. The following table sets forth the computation of basic and diluted net loss per share:


	Year Ended December 31,
	2021			2020
	(in thousands, except share and per share amounts)
Numerator:
Net loss	$	(8,965	)	$	(6,678	)
Denominator:
Weighted average common shares outstanding, basic		151,609,440			145,647,226
Effect of potential dilutive common shares		—			—
Weighted average common shares outstanding, diluted		151,609,440			145,647,226
Net loss per share, basic	$	(0.06	)	$	(0.05	)
Net loss per share, diluted	$	(0.06	)	$	(0.05	)

The Company excluded the following potential common shares, presented based on amounts outstanding at each period end, from the computation of diluted net loss per share for the periods indicated because their inclusion would have had an anti-dilutive effect:


	Year Ended December 31,
	2021		2020
Options to purchase common shares		9,822,179		9,333,218
Unvested restricted stock units		336,905		—
Total		10,159,084		9,333,218