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Net Income (Loss) per Share | 3 Months Ended
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Mar. 31, 2025
Earnings Per Share [Abstract] |
Net Income (Loss) per Share | Net Income (Loss) per Share Basic net income or loss per share is determined by dividing net loss by the weighted average shares of common stock outstanding during the period, without consideration of potentially dilutive securities, except for those shares that are issuable for little or no cash consideration. Diluted net income or loss per share is determined by dividing net income or loss by diluted weighted average shares outstanding. Diluted weighted average shares reflects the dilutive effect, if any, of potentially dilutive common shares, such as stock options and warrants calculated using the treasury stock method. In periods with reported net operating losses, all common stock options, convertible preferred shares, and preferred and common warrants are generally deemed anti-dilutive such that basic net loss per share and diluted net loss per share are equal. As of March 31, 2025 and 2024, the Company had 1,341,375 and 2,045,894 pre-funded warrants outstanding, respectively. The following table provides a reconciliation of the weighted average shares outstanding calculation for the three months ended March 31, 2025 and 2024:
Weighted average number of basic shares outstanding |  |  |  |
| Three months ended March 31, |  |
| 2025 |  | 2024 |  |  |  |
Weighted average shares issued | 33,301,266 |  | 23,705,374 |  |  |  |
Weighted average pre-funded warrants | 1,341,375 |  | 1,181,806 |  |  |  |
Weighted average shares outstanding | 34,642,641 |  | 24,887,180 |  |  |  |
Weighted average number of diluted shares outstanding |  |  |  |
| Three months ended March 31, |  |
| 2025 |  | 2024 |  |  |  |
Weighted average shares outstanding (Basic) | 34,642,641 |  | 24,887,180 |  |  |  |
Additional dilutive shares | 4,868,479 |  | — |  |  |  |  |
Weighted average shares outstanding (Diluted) | 39,511,120 |  | 24,887,180 |  |  |  |
The following potentially dilutive securities were excluded from the computation of earnings per share as of March 31, 2025 and 2024 because their effects would be anti-dilutive:
| Three Months Ended March 31, |  |
| 2025 |  | 2024 |  |  |  |
Common stock warrants | — |  | 3,627,409 |  |  |  |  |
Assumed conversion of preferred stock warrants | — |  | 4,149,994 |  |  |  |  |
Assumed conversion of preferred stock | — |  | 2,564,911 |  |  |  |  |
Assumed conversion of convertible notes | — |  | 488,031 |  |  |  |  |
Stock options | 2,531,230 |  | 6,039,175 |  |  |  |  |
Assumed conversion of ESPP | 22,057 |  | 16,586 |  |  |  |
Total | 2,553,287 |  | 16,886,106 |  |  |  |

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