Net Loss Per Share

9 Months Ended

Sep. 30, 2024

8. Net Loss Per Share

The Company calculates basic net loss per share by dividing net loss by the weighted-average number of shares of common stock outstanding, excluding restricted common stock. The weighted-average number of shares of common stock used in the basic and diluted net loss per share calculation include pre-funded warrants to purchase up to 41,283,052 shares of common stock, as the pre-funded warrants are exercisable at any time for nominal cash consideration. The Company has generated a net loss in all periods presented, so the basic and diluted net loss per share are the same, as the inclusion of the potentially dilutive securities would be anti-dilutive.

The following outstanding potentially dilutive shares have been excluded from the calculation of diluted net loss per share due to their anti-dilutive effect:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Stock options to purchase common stock		12,757,684		9,335,202		12,757,684		9,335,202
Shares subject to Employee Stock Purchase Plan		36,364		97,880		36,364		97,880
Unvested restricted stock units		782,709		533,917		782,709		533,917
Common warrants		8,104,615		8,427,508		8,104,615		8,427,508
Total		21,681,372		18,394,507		21,681,372		18,394,507