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Net Loss Per Share
 3 Months Ended
Mar. 31, 2024
Net Loss Per Share [Abstract]  
Net Loss Per Share

Note 13 — Net Loss Per Share

 

Net loss per share calculations for all periods have been adjusted to reflect the Company’s reverse stock splits. Net loss per share was calculated based on the weighted-average number of the Company’s Common Stock outstanding.

 

Basic net loss per share is calculated using the weighted-average number of Common Stock outstanding during the periods. Diluted net loss per share is computed by giving effect to all potential shares of Common Stock, including outstanding stock options, stock related to unvested restricted stock units, and outstanding warrants to the extent dilutive. Net loss per share, assuming dilution, is equal to basic net loss per share because the effect of dilutive securities outstanding during the periods, including options and warrants computed using the treasury stock method, is anti-dilutive.

 

The components of basic and diluted net loss per share were as follows:

 

   Three months ended March 31, 
(In thousands, except share and per share data)  2024   2023 
Numerator:        
Net loss available for common shareholders  $(38)  $(10,327)
Denominator:          
Weighted-average common shares outstanding – basic and diluted
   8,894,229    1,072,292 
Net loss per share attributable to Common Stockholders – basic and diluted
  $
—
   $(9.63)

 

The Company’s potential dilutive securities, which include stock options, restricted stock units, and warrants, have been excluded from the computation of diluted net loss per share as the effect would be to reduce the net loss per share. Therefore, the weighted-average number of Common Shares outstanding used to calculate both basic and diluted net loss per share attributable to Common Stockholders is the same. The Company excluded the following potential Common Stock equivalents presented based on amounts outstanding at each period end, from the computation of diluted net loss per share attributable to Common Stockholders for the periods indicated because including them would have had an anti-dilutive effect:

 

   Three months ended March 31, 
   2024   2023 
Shares subject to outstanding stock options   10,206    10,562 
Shares subject to unvested restricted stock units   1,835    6,307 
Shares subject to outstanding warrants   3,265,922    1,495,001 
    3,277,963    1,511,870