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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 | 3. Net Loss Per Share The table below sets forth the computation of basic and diluted loss per share for the periods presented (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 |  | $ | (9,002 | ) |  | $ | (9,438 | ) |  | $ | (25,782 | ) |  | $ | (29,470 | )
Deemed dividends |  |  | — |  |  |  | (305 | ) |  |  | — |  |  |  | (2,724 | )
Net loss attributable to common stockholder |  | $ | (9,002 | ) |  | $ | (9,743 | ) |  | $ | (25,782 | ) |  | $ | (32,194 | )
Denominator: |  |  |  |  |  |  |  |  |  |  |  |
Weighted average shares outstanding |  |  | 12,464,236 |  |  |  | 374,270 |  |  |  | 4,495,701 |  |  |  | 367,888 |
Effect of dilutive shares |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Basic and diluted loss per share |  | $ | (0.72 | ) |  | $ | (26.03 | ) |  | $ | (5.73 | ) |  | $ | (87.51 | )
Since the Company incurred a net loss for the three and nine months ended September 30, 2025 and 2024, the diluted net loss per share calculation excludes potentially dilutive securities. The following table summarizes the number of shares of common stock issuable under various securities that were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive:
|  | Three and nine months ended September 30, |
|  | 2025 |  |  | 2024 |
Redeemable convertible preferred stock |  |  | — |  |  |  | 12,196,291 |
Common warrants |  |  | 244,425 |  |  |  | 672,632 |
Preferred warrants |  |  | — |  |  |  | 10,377 |
Restricted stock units |  |  | 185,247 |  |  |  | 90,009 |
Stock options and employee stock purchase plan |  |  | 4,401,452 |  |  |  | 2,291,745 |
Total shares |  |  | 4,831,124 |  |  |  | 15,261,054 |
The Company recorded deemed dividen ds of $0.3 million and $2.7 million for the three and nine months ended September 30, 2024, respectively, as a result of a down-round feature in the Company’s Series E, F, and F-1 preferred stock triggered during the issuance by the Company of Series G preferred stock (see Note 7). No deemed dividends were recorded for the three and nine months ended September 30, 2025.

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