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Net Loss per Common Share
 9 Months Ended
Sep. 30, 2024
Net Loss per Common Share [Abstract]  
Net Loss per Common Share

Note 3. Net Loss per Common Share

 

The following table sets forth the computation of basic and diluted loss per share (in thousands, except per share data):

 

   

Three Months Ended

September 30,

    

Nine Months Ended

September 30,

  
    2024     2023     2024     2023  
Numerator:                        
Net loss   $ (5,675 )   $ (6,841 )   $ (17,305 )   $ (20,395 )
Less: Series A convertible preferred stock dividends     -       (215 )     -       (646 )
Net loss attributable to common stockholders – basic and diluted   $ (5,675 )   $ (7,056 )   $ (17,305 )   $ (21,041 )
Denominator:                                
Weighted average shares used in computing net loss per common share – basic and diluted     93,048       71,588       89,063       64,246  
Net loss per common share – basic and diluted   $ (0.06 )   $ (0.10 )   $ (0.19 )   $ (0.33 )

  

Net loss per share is based on the weighted average number of the Company’s common shares and common share equivalents outstanding during the period.

 

In periods with a reported net loss, the effect of anti-dilutive stock options, unvested restricted common stock and warrants are excluded and diluted loss per share is equal to basic loss per share. Due to a net loss in the three and nine months ended September 30, 2024 and 2023, there were therefore no dilutive securities and hence basic and diluted loss per share were the same. The following is a summary of the weighted average common stock equivalents for the securities outstanding during the respective periods that have been excluded from the computation of diluted net loss per common share, as their effect would be anti-dilutive (in thousands):

 

  

Three Months Ended

September 30,

  

Nine Months Ended

September 30,

 
   2024   2023   2024   2023 
Warrants   2,212    5,973    2,538    6,092 
Options   12,407    13,069    12,882    11,410 
Unvested restricted common stock   2,997    1,783    2,997    771 
Total potentially dilutive shares   17,616    20,825    18,417    18,273 

 

As all potentially dilutive securities are anti-dilutive as of September 30, 2024 and 2023, diluted net loss per share is the same as basic net loss per share for each period.