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Net Loss per Share | 3 Months Ended
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Mar. 31, 2022
Earnings Per Share [Abstract] |
Net Loss per Share | Note 9. Net Loss per Share Basic net loss per share is calculated based on the weighted-average number of shares of the Company’s common stock during the period. Diluted net loss per share is calculated based on the weighted-average number of shares of the Company’s common stock and other dilutive securities outstanding during the period. Potentially dilutive securities are excluded from the calculation if their inclusion would have been antidilutive. The following table sets forth the computation of basic and diluted net loss per share (in thousands, except share and per share data):
|  | Three Months Ended March 31, |
|  | 2022 |  |  | 2021 |
Numerator: |  |  |  |  |  |
Net loss |  | $ | (67,993 | ) |  | $ | (72,593 | )
Denominator: |  |  |  |  |  |
Weighted-average common shares outstanding |  |  | 71,194,778 |  |  |  | 68,476,799 |
Less: weighted-average common shares subject to vesting |  |  | - |  |  |  | (1,394,638 | )
Weighted-average common shares used to compute basic and diluted net loss per share |  |  | 71,194,778 |  |  |  | 67,082,161 |
Net loss per share: basic and diluted |  | $ | (0.96 | ) |  | $ | (1.08 | )
The following outstanding potentially dilutive securities were excluded from the computation of diluted net loss per share because including them would have been antidilutive:
|  | Three Months Ended March 31, |
|  | 2022 |  |  | 2021 |
Common stock options issued and outstanding |  |  | 12,564,969 |  |  |  | 11,708,625 |
Restricted stock units issued |  |  | 1,558,381 |  |  |  | 1,532,162 |
Employee Stock Purchase Plan shares |  |  | 102,414 |  |  |  | 96,591 |
Unvested early exercised common stock options |  |  | - |  |  |  | 111,094 |
Unvested restricted common stock issued as part of collaboration agreement |  |  | - |  |  |  | 1,257,651 |
Total |  |  | 14,225,764 |  |  |  | 14,706,123 |
The Company also excluded the effect of Gilead’s right to purchase additional shares of the Company’s common stock from its calculation as these rights had no intrinsic value at March 31, 2022.

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