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Net Loss Per Share Allocable to Common Stockholders | 12 Months Ended
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Dec. 31, 2024
Earnings Per Share [Abstract] |
Net Loss Per Share Allocable to Common Stockholders | Net Loss Per Share Allocable to Common Stockholders The Company reported a net loss for the years ended December 31, 2024 and 2023. The Company used the treasury stock method to determine the number of dilutive shares for the year ended December 31, 2024. The following table sets forth the computation of basic and diluted net loss per share allocable to common stockholders (in thousands, except share and per-share data):
|  |  |  | Year Ended December 31,
|  |  |  |  |  |  |  | 2024 |  | 2023 |  |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |
Net loss |  |  |  |  |  |  |  | $ | (77,424) |  |  | $ | (219,710) |  |  |
Less: CVR distribution to participating securities |  |  |  |  |  |  |  | — |  |  | (37,550) |  |  |
Net loss allocable to shares of common stock - basic |  |  |  |  |  |  |  | (77,424) |  |  | (257,260) |  |  |
Less: Change in fair value of forward contract liability settled in February 2024 |  |  |  |  |  |  |  | (446) |  |  | — |  |  |
Net loss allocable to shares of common stock - diluted |  |  |  |  |  |  |  | $ | (77,870) |  |  | $ | (257,260) |  |  |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average common shares outstanding - basic |  |  |  |  |  |  |  | 17,276,822 |  |  | 5,170,319 |  |  |
Plus: Dilutive effect of forward contract liability settled in February 2024 |  |  |  |  |  |  |  | 81,121 |  |  | — |  |  |
Weighted-average common shares outstanding - diluted |  |  |  |  |  |  |  | 17,357,943 |  |  | 5,170,319 |  |  |
Net loss per share: |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  |  |  |  |  |  | $ | (4.48) |  |  | $ | (49.76) |  |  |
Diluted |  |  |  |  |  |  |  | $ | (4.49) |  |  | $ | (49.76) |  |  |
The following table represents the potential dilutive shares of common stock excluded from the computation of the diluted net loss per share allocable to common stockholders for all periods presented, as the effect would have been anti-dilutive:
| Year Ended December 31,
| 2024 |  | 2023 |  |
Common stock options and RSUs | 2,150,273 |  |  | 776,865 |  |  |
Warrants to purchase common stock | 692,523 |  |  | 1,040,813 |  |  |
Series A Preferred Stock | 4,026,346 |  |  | 14,503,993 |  |  |
Series B Preferred Stock | 437,927 |  |  | — |  |  |
Forward contract to issue Series A Preferred Stock | — |  |  | 3,304,677 |  |  |
Series A Preferred Stock options | — |  |  | 470,403 |  |  |
Total | 7,307,069 |  |  | 20,096,751 |  |  |

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