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Net Loss per Share

9 Months Ended

Sep. 30, 2025

Net Loss per Share

Net Loss per Share

5. Net Loss per Share

The computation of basic EPS is based on the weighted-average number of the Company’s Common Stock outstanding. The computation of diluted EPS is based on the weighted-average number of the Company’s Common Stock outstanding and potential dilutive common stock. Diluted EPS is computed using the treasury stock method, which reflects the potential dilution that would occur if securities or other contracts to issue Common Stock were exercised or converted to the Company’s Common Stock. The Company’s Common Stock options, warrants, and unvested restricted stock units were not included in dilutive EPS for the periods presented as their impact would be antidilutive.

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Three Months Ended September 30,

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Nine Months Ended September 30,

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2025

2024

2025

2024

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Numerator:

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Net loss attributable to common stockholders, basic and diluted

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$

(26,675)

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$

(5,481)

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$

(49,501)

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$

(21,516)

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Denominator:

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Weighted average common shares outstanding, basic and diluted

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36,226,285

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36,180,124

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36,201,674

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36,153,388

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Net loss per share, basic and diluted

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$

(0.74)

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$

(0.15)

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$

(1.37)

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$

(0.60)

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The following outstanding securities as of September 30, 2025 and December 31, 2024 have been excluded from the computation of dilutive weighted-average shares outstanding, as they would have been anti-dilutive:

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​	​	​	​	​	​
​		September 30, 2025		December 31, 2024
Outstanding stock options		5,012,648		3,755,965	​
Unvested restricted stock units	​	152,500	​	220,000	​
Shares issuable upon the conversion of the Convertible Loan (1)	​	24,096,491	​	—	​
Outstanding warrants	​	10,655,047	​	19,365,847	​
Total		39,916,686		23,341,812

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(1) The Company determined the number of shares issuable upon the conversion of the Convertible Loan as of September 30, 2025, based on the Convertible Loan principal amount of $30.0 million, accrued and unpaid interest of $6.6 million, calculated at an annual interest rate of 8%, converted at $1.52 per share.

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- References

No definition available.

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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

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