Net Loss per Share

9 Months Ended

Sep. 30, 2021

NET LOSS PER SHARE

Basic and diluted net loss per share attributable to common stockholders was calculated as follow:


	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands, except per share data)	2021		2020		2021		2020
Numerator:
Net loss	$	(20,175)	$	(17,449)	$	(58,489)	$	(43,731)
Deemed dividend as a result of Class B warrant price reset (Note 10)	—		—		(8,239)		—
Net loss attributable to common stockholders	$	(20,175)	$	(17,449)	$	(66,728)	$	(43,731)
Denominator:
Weighted average shares of common stock outstanding—basic and diluted	26,609		20,085		24,667		20,035
Net loss per share attributable to common stockholders— basic and diluted	$	(0.76)	$	(0.87)	$	(2.71)	$	(2.18)

The Company included 229,885 shares of redeemable common stock in its computation of basic and diluted weighted average common shares outstanding for the three and nine months ended September 30, 2021 as these shares of common stock, until their repurchase and retirement, participated in losses similarly to other shares of common stock. Basic and diluted weighted average shares of common stock outstanding for the three and nine months ended September 30, 2021 and September 30, 2020 also include the weighted average effect of outstanding pre-funded warrants for the purchase of shares of common stock for which the remaining unfunded exercise price is $0.01 or less per share.

The Company’s potentially dilutive securities include outstanding stock options, restricted stock units and warrants to purchase shares of common stock for the three months ended September 30, 2021 and 2020. All potentially dilutive securities have been excluded from the computation of diluted net loss per share as the effect would be to reduce the net loss per share, and thus they are considered “anti-dilutive.” Therefore, the weighted average number of shares of common stock 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 shares of common stock, 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 September 30,		Nine Months Ended September 30,
	2021	2020	2021	2020
Options to purchase shares of common stock	1,952,891	1,613,024	1,952,891	1,613,024
Unvested restricted stock units	906,873	611,994	906,873	611,994
Warrants to purchase shares of common stock (excluding prefunded warrants, which are included in basic shares outstanding)	9,449,128	9,626,040	9,449,128	9,626,040
	12,308,892	11,851,058	12,308,892	11,851,058