Net Loss Per Share

6 Months Ended

Jun. 30, 2022

18.

Net Loss Per Share

The following common stock equivalents were excluded from the computation of diluted net loss per share, because including them would have been antidilutive:


	As of June 30,
	2022		2021
Unvested RSAs		1,114,006		2,468,416
Unvested RSUs		6,055,931		1,643,312
Unvested performance-based RSUs		84,505		66,683
Common stock options issued and outstanding		12,669,110		10,320,564
Estimated shares issuable under performance-based milestone compensation arrangements		29,396,554		3,785,559
Estimated shares issuable under the ESPP		207,960		37,649
Assumed conversion of 2027 Notes		12,878,305		12,878,305
Assumed conversion of 2029 Notes		7,702,988		7,702,988
		70,109,359		38,903,476

Our 2029 Notes and 2027 Notes are convertible, based on the applicable conversion rate, into cash, shares of our common stock or a combination thereof, at our election.

As discussed in Notes 9 and 15, we have performance-based milestone compensation arrangements, whose vesting is contingent upon meeting various regulatory and development milestones, with fixed monetary amounts known at inception that can be settled in the form of cash or equity at our sole election, upon achievement of each contingent milestone. The common stock equivalents of such arrangements were estimated as if the contingent milestones were achieved as of the reporting date and the arrangements were all settled in equity.