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Net Loss Per Common Share | 9 Months Ended
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Sep. 30, 2025
Earnings Per Share [Abstract] |
Net Loss Per Common Share | 8. Net Loss Per Common Share ## Net Loss Per Common Share Basic and diluted net loss per common share was calculated as follows (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 |  | $ | (42,217) |  | $ | (34,555) |  | $ | (116,390) |  | $ | (95,907)
Denominator: |  |  |  |  |  |  |  |  |  |  |  |
Weighted average shares used to compute net loss per share, basic and diluted¹ |  |  | 85,732,221 |  |  | 57,262,803 |  |  | 85,553,078 |  |  | 53,194,081
Net loss per share, basic and diluted |  | $ | (0.49) |  | $ | (0.60) |  | $ | (1.36) |  | $ | (1.80)
¹ For the three and nine months ended September 30, 2025, the weighted average shares used to compute net loss per share, basic and diluted, include the effect from the pre-funded warrants.
The potentially dilutive shares that were excluded from the calculation of diluted net loss per share because their effect would have been anti-dilutive for the periods presented are as follows:
|  | Nine Months Ended September 30, |
|  | 2025 |  |  | 2024 |
Options to purchase common stock |  |  | 15,486,430 |  |  |  | 11,374,048 |
Employee stock purchase plan contingently issuable |  |  | 52,567 |  |  |  | 17,227 |
Unvested performance-based restricted stock unit awards |  |  | — |  |  |  | 403,000 |
|  |  | 15,538,997 |  |  |  | 11,794,275 |

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