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BASIC AND DILUTED NET LOSS PER SHARE | 6 Months Ended
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Jun. 30, 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 and six months ended June 30, 2025, basic and diluted weighted-average number of shares outstanding were 257.0 million and 238.7 million shares, respectively, and included pre-funded warrants to purchase 34,398,393 shares of common stock with an exercise price of $0.01 per share. In June 2025, a total of 22,398,393 pre-funded warrants were exercised. The Company’s outstanding warrants to purchase shares of common stock with the exercise price of $0.75 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 and six months ended June 30, 2025. During the three and six months ended June 30, 2024, basic and diluted weighted-average number of shares outstanding were 203.9 million and 194.0 million shares, respectively, and included 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 Company’s outstanding 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 and six months ended June 30, 2024. The computation of diluted net loss per share for the three and six months ended June 30, 2025 excluded 100.0 million shares subject to outstanding stock options, restricted stock units and warrants to purchase shares of common stock, and the shares reserved for issuance under the Company’s employee stock purchase plan because their inclusion would have had an anti-dilutive effect on diluted net loss per share. The computation of diluted net loss per share for the three and six months ended June 30, 2024 excluded 53.1 million shares, subject to outstanding stock options, restricted stock units and warrants to purchase shares of common stock, and the shares reserved for issuance under the Company’s employee stock purchase plan because their inclusion would have had an anti-dilutive effect on diluted net loss per share.

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