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Net Income (Loss) Per Share (Tables)
3 Months Ended
Mar. 31, 2024
Earnings Per Share [Abstract]  
Schedule of Basic and Diluted Net Income (loss) Per Share

The following table sets forth the computation of basic and diluted net income (loss) per share (in thousands, except per share amounts):

 

 

Three Months Ended March 31,

 

 

 

2024

 

 

 

2023

 

Numerator:

 

 

 

 

 

 

 

Net Income (loss)

$

 

130

 

 

$

 

(19,288

)

Denominator

 

 

 

 

 

 

 

Basic

 

 

 

 

 

 

 

Weighted-average common shares outstanding, basic and diluted

 

 

9,465,797

 

 

 

 

823,069

 

Weighted-average pre-funded warrants outstanding, basic and diluted

 

 

232,406

 

 

 

 

-

 

Weighted-average placement agent warrants outstanding, basic and diluted

 

 

56,314

 

 

 

 

-

 

Weighted-average number of shares used to calculate basic net income (loss) per share

 

 

9,754,517

 

 

 

 

823,069

 

Diluted

 

 

 

 

 

 

 

Weighted-average number of shares used to calculate basic net income (loss) per share

 

 

9,754,517

 

 

 

 

823,069

 

Effect of potentially dilutive securities

 

 

 

 

 

 

-

 

Stock options

 

 

292,898

 

 

 

 

-

 

Weighted-average number of shares used to calculate diluted net income (loss) per share

 

 

10,047,415

 

 

 

 

823,069

 

 

 

 

 

 

 

 

 

Net income (loss) per share

 

 

 

 

 

 

 

Basic

$

 

0.01

 

 

$

 

(23.43

)

Diluted

$

 

0.01

 

 

$

 

(23.43

)

Schedule of Anti-dilutive Securities Excluded from Calculation of Diluted Net Loss Per Share

The following outstanding potentially dilutive shares have been excluded from the calculation of diluted net income (loss) per share due to their anti-dilutive effect:

 

 

 

As of March 31,

 

 

 

2024

 

 

2023

 

Stock options to purchase common stock

 

 

1,818,314

 

 

 

1,230,173

 

Warrants to purchase common stock

 

 

5,644,300

 

 

 

276,437

 

Total

 

 

7,462,614

 

 

 

1,506,610