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Loss Per Share of Common Shares
 9 Months Ended
Sep. 30, 2024
Earnings Per Share [Abstract]  
Loss Per Share of Common Shares

Note 9. Loss Per Share of Common Shares

 

Basic loss per share is derived by dividing net loss applicable to common stockholders by the weighted average number of shares of common stock outstanding during each period (excluding unvested shares of restricted common stock). Diluted loss per share includes the effect, if any, from the potential exercise or conversion of securities, such as warrants and stock options, which would result in the issuance of incremental shares of common stock unless such effect is anti-dilutive. In calculating the basic and diluted net loss per share applicable to common stockholders, the weighted average number of shares remained the same for both calculations due to the fact that when a net loss exists, dilutive shares are not included in the calculation. Potentially dilutive securities outstanding that have been excluded from diluted loss per share due to being anti-dilutive include the following:

 

   2024   2023 
   Outstanding at September 30, 
   2024   2023 
Warrants to purchase common stock   70,000    177,998 
Unvested restricted shares of common stock   20,000    6,000 
Stock options   1,274,546    1,060,708 
Anti-dilutive securities   1,364,546    1,244,706