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Net Loss Attributable to Common Stockholders per Share
 6 Months Ended
Jun. 30, 2024
Earnings Per Share [Abstract]  
Net Loss Attributable to Common Stockholders per Share
10. Net Loss Attributable to Common Stockholders per Share
For purposes of the diluted net loss attributable to common stockholders per share calculation, outstanding stock options, unvested RSAs, unvested RSUs, conversion option derivative under the K2HV Loan Agreement, and warrants to purchase common stock are considered to be potentially dilutive securities, however the following outstanding shares of common stock equivalents were excluded from the calculation of diluted net loss attributable to common stockholders per share because their effect would be anti-dilutive:
June 30,
20242023
Outstanding stock options
7,510,033 6,745,934 
Unvested RSUs150,000 316,500 
Warrants to purchase common stock
58,904 58,904 
Common stock to be issued under the 2021 ESPP
36,767 18,366 
Total
7,755,704 7,139,704 
Basic net loss per share is computed by dividing net loss by the weighted-average number of shares of common stock outstanding during the applicable period. In computing diluted net loss per share, only potential shares of common stock that are dilutive are included. We considered each issue or series of issues of potential shares of common stock separately when determining whether potential shares of common stock are dilutive or antidilutive. We made such determination in sequence from the most dilutive to the least dilutive and concluded that the conversion option derivative under the K2HV Loan Agreement is dilutive to net loss per share for the three and six months ended June 30, 2024. Pursuant to FASB ASC Topic 260, Earnings Per Share, we applied the if-converted method to determine the effect of the conversion option derivative under the K2HV Loan Agreement on the diluted earnings per share calculations. Pursuant to such method, we adjusted the numerator for the gain recognized during the period in net loss from the conversion option derivative under the K2HV Loan Agreement and the increased the denominator to include the number of additional shares of common stock that would have been outstanding if the conversion option derivative under the K2HV Loan Agreement were converted as of the beginning the period.
Three Months Ended June 30,
Six Months Ended June 30,
2024202320242023
Numerator
Net loss$(17,249)$(5,098)$(33,442)$(17,080)
Less: Change in fair value of derivative liability
(1,609)— (1,609)— 
Plus: Interest expense on converted term loan120 — 120 — 
Adjusted net loss$(18,738)$(5,098)$(34,931)$(17,080)
Denominator
Weighted-average common stock outstanding, basic43,521,406 35,557,701 42,564,342 35,173,327 
Dilutive effect of common stock issuable from assumed conversion of convertible term loan
521,778 — 260,889 — 
Weighted-average common stock outstanding, diluted44,043,184 35,557,701 42,825,231 35,173,327 
Net loss per share
Basic$(0.40)$(0.14)$(0.79)$(0.49)
Diluted$(0.43)$(0.14)$(0.82)$(0.49)