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Net Loss per Share | 9 Months Ended
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Sep. 30, 2025
Earnings Per Share [Abstract] |
Net Loss per Share | 11. Net loss per share For periods in which the Company reports a net loss, potentially dilutive securities have been excluded from the computation of diluted net loss per share as their effects would be anti-dilutive. Therefore, the weighted average number of common shares outstanding used to calculate both basic and diluted net loss per share is the same. Shares of the Company's common stock underlying pre-funded warrants are included in the calculation of the basic and diluted earnings per share. The Company excluded the following potential common shares, presented based on amounts outstanding at period end, from the computation of diluted net loss per share because including them would have had an anti-dilutive effect:
|  | As of September 30, |
|  | 2025 |  |  | 2024 |
Unvested restricted stock |  |  | 2,781,885 |  |  |  | 3,213,366 |
Outstanding options to purchase common stock |  |  | 11,548,228 |  |  |  | 10,044,622 |
Total |  |  | 14,330,113 |  |  |  | 13,257,988 |
The following table summarizes the computation of basic and diluted net loss per share of the Company (in thousands, except share and per share amounts):
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |
Net loss |  | $ | (112,728 | ) |  | $ | (96,668 | ) |  | $ | (324,289 | ) |  | $ | (286,388 | )
Denominator: |  |  |  |  |  |  |  |  |  |  |  |
Weighted average common shares outstanding, basic and diluted |  |  | 102,570,801 |  |  |  | 82,410,095 |  |  |  | 97,567,229 |  |  |  | 82,141,383 |
Net loss per common share, basic and diluted |  | $ | (1.10 | ) |  | $ | (1.17 | ) |  | $ | (3.32 | ) |  | $ | (3.49 | )

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