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BASIC AND DILUTED NET LOSS PER SHARE
3 Months Ended
Mar. 31, 2025
Earnings Per Share [Abstract]  
BASIC AND DILUTED NET LOSS PER SHARE BASIC AND DILUTED NET LOSS PER SHARE
Basic net loss per share has been computed by dividing net loss by the weighted-average number of shares of common stock outstanding during the period. Diluted net loss per share is calculated by dividing net loss by the weighted-average number of shares of common stock plus potentially dilutive securities outstanding during the period. Potential shares of common stock exercisable for little or no consideration are included in both basic and diluted weighted-average number of shares of common stock outstanding.
During the three months ended March 31, 2025 and 2024, both basic and diluted weighted-average number of shares outstanding were 220.3 million and 180.3 million shares, respectively. During the three months ended March 31, 2024 both basic and diluted weighted-average number of shares outstanding included 251,177 shares from pre-funded warrants to purchase 3,809,523 shares of common stock with an exercise price of $0.01 per share. These pre-funded warrants were exercised in June 2024. The warrants to purchase shares of common stock with the exercise price of $1.00 per share entitle holders to participate in dividends but are not required to absorb losses incurred and as a result were excluded from basic net loss per share calculations during the three months ended March 31, 2024.
The computation of diluted net loss per share for the three months ended March 31, 2025 and 2024 excluded 55.3 million and 55.6 million shares, respectively, subject to stock options outstanding, restricted stock units outstanding, warrants to purchase shares of common stock, and the employee stock purchase plan shares reserved for issuance because their inclusion would have had an anti-dilutive effect on diluted net loss per share.