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Net Loss per Share
 6 Months Ended
Jun. 30, 2023
Net Loss per Share  
Net Loss per Share

11. Net Loss per Share

The Company calculates basic net loss per share by dividing net loss by the weighted average number of common shares outstanding, excluding restricted common stock. The weighted average number of common shares used in the basic and

diluted net loss per share calculation includes the pre-funded warrants issued in connection with the Company’s November 2020 and June 2022 follow-on offerings as the pre-funded warrants are exercisable at any time for nominal cash consideration. As of June 30, 2023, 2,293,466 pre-funded warrants have been exercised and 25,396,226 pre-funded warrants remain outstanding. The Company has generated a net loss in all periods presented, so the basic and diluted net loss per share are the same, as the inclusion of the potentially dilutive securities would be anti-dilutive.

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

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Six Months Ended June 30, 

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2023

    

2022

Restricted stock units

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2,047,026

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1,814,627

Stock options

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7,835,195

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5,399,227

Warrants

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10,459,181

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10,459,181

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20,341,402

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17,673,035

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