Net Loss Per Share

9 Months Ended

Sep. 30, 2024

9. Net loss per share

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,
	2024			2023			2024			2023
Numerator:
Net loss	$	(26,430	)	$	(24,542	)	$	(78,499	)	$	(77,741	)
Denominator:
Weighted-average number of common shares, basic and diluted		56,341,074			44,266,017			52,991,015			43,669,987
Net loss per share, basic and diluted	$	(0.47	)	$	(0.55	)	$	(1.48	)	$	(1.78	)

The Company has included the outstanding pre-funded warrants from the April 2024 offering in the number of total outstanding shares used for the computation of basic and diluted net loss per share for the period ending September 30, 2024, since they have a de minimis exercise price. The Company’s potential dilutive securities, which include common stock options, RSUs, PSUs, and ESPP purchase rights, have been excluded from the computation of diluted net loss per share as the effect would be anti-dilutive. Therefore, the weighted average number of shares of the Company’s common stock outstanding, including warrants, used to calculate both basic and diluted net loss per share is the same.

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 for the periods indicated because including them would have had an anti-dilutive effect:


	September 30,
	2024		2023
Outstanding options to purchase common stock		8,683,588		9,467,860
Restricted stock units		2,341,683		779,700
Total		11,025,271		10,247,560