Net Loss Per Share

3 Months Ended

Mar. 31, 2024

8. Net Loss Per Share

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


	Three Months Ended March 31,
	2024			2023
Numerator:
Net loss	$	(18,192	)	$	(11,880	)
Denominator:
Weighted-average common shares outstanding		52,275,451			42,690,767
Less: weighted-average unvested restricted common stock subject to repurchase		—			(3,274	)
Less: weighted-average unvested common stock issued upon early exercise of common stock options		(46,517	)		(292,870	)
Weighted-average shares used to compute net loss per common share, basic and diluted		52,228,934			42,394,623
Net loss per share, basic and diluted	$	(0.35	)	$	(0.28	)

Included in the weighted-average shares of common stock outstanding, both basic and diluted for the three months ended March 31, 2024 is a total of 6,087,230 common stock issuable upon the exercise of the 2024 Pre-Funded Warrants issued under the 2024 Private Placement (described in Note 6). The 2024 Pre-Funded Warrants are exercisable at any time for nominal consideration, and therefore these shares are considered outstanding for the purpose of calculating basic and diluted net loss per share.

The following table sets forth the outstanding potentially dilutive securities that have been excluded from the calculation of diluted net loss per share because their inclusion would be anti-dilutive.


	As of March 31,
	2024		2023
Unvested restricted common stock subject to repurchase		—		3,175
Unvested common stock upon early exercise of stock options		46,517		225,581
Options to purchase common stock		8,347,499		6,126,093
Estimated shares purchasable under the ESPP		2,913		3,133
		8,396,929		6,357,982