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Net Income (Loss) per Share | 9 Months Ended
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Sep. 30, 2024
Earnings Per Share [Abstract] |
Net Income (Loss) per Share | Net Income (Loss) per Share The computation of basic net income (loss) per share is based on the weighted-average number of the Company's common shares outstanding. The weighted-average common shares outstanding used in the basic and diluted net loss per share calculation includes the Pre-Funded Warrants issued in connection with the Company’s registered direct offering in June 2024 as the Pre-Funded Warrants are exercisable for nominal cash consideration. The computation of diluted net income (loss) per share is based on the weighted-average number of the Company's common shares outstanding and potential dilutive common shares outstanding during the period as determined by using the treasury stock method. The following table illustrates the determination of basic and diluted net income (loss) per share for each period presented (in thousands, except share and per share date):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Numerator: |  |  |  |  |  |  |
Net (loss) income | $ | (14,032) |  | $ | 35,461 |  |  | $ | 64,495 |  | $ | 2,859 |
Denominator: |  |  |  |  |  |  |
Weighted‑average common shares outstanding, basic | 40,629,602 |  | 33,281,287 |  | 36,118,930 |  | 32,942,958
Effect of dilutive securities | — |  | 1,494,164 |  |  | 1,464,556 |  |  | 1,346,453 |
Weighted‑average common shares outstanding, diluted | 40,629,602 |  | 34,775,451 |  | 37,583,486 |  | 34,289,411
Net (loss) income per share, basic | $ | (0.35) |  | $ | 1.07 |  |  | $ | 1.79 |  | $ | 0.09 |
Net (loss) income per share, diluted | $ | (0.35) |  | $ | 1.02 |  |  | $ | 1.72 |  | $ | 0.08 |
The Company excluded the following potential common shares, presented based on amounts outstanding at each period end, from the computation of diluted net income (loss) per share attributable to common stockholders for the periods indicated because including them would have had an anti-dilutive effect:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Unvested restricted stock units | 2,014,608 |  | 11,299 |  | 398,871 |  | 12,198
Unvested performance stock units | 438,500 |  | — |  | 438,500 |  | —
Unvested shares from early exercises | 4,670 |  | — |  | — |  | —
Stock options to purchase common stock | 5,502,085 |  | 3,480,965 |  | 2,724,204 |  | 3,609,307
| 7,959,863 |  | 3,492,264 |  | 3,561,575 |  | 3,621,505

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-3 + Details
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