Net Loss Per Common Share

12 Months Ended

Dec. 31, 2022

11. NET LOSS PER COMMON SHARE

Basic and diluted loss per common share were calculated as follows:


	FOR THE YEAR ENDED DECEMBER 31,
(in thousands except share and per share amounts)	2022			2021
Net loss	$	(66,654	)	$	(47,013	)
Weighted-average number of common shares outstanding, basic and diluted		31,821,311			25,519,114
Net loss per common share, basic and diluted	$	(2.09	)	$	(1.84	)

Basic net loss per share of common stock is based on the weighted-average number of shares of common stock outstanding during the period. Pre-funded warrants to purchase 3,333,388 shares of common stock that were issued in connection with the November 2022 follow-on offering were included in the weighted-average number of common shares outstanding for the year ended December 31, 2022. The weighted-average number of common shares outstanding diluted for the year ended December 31, 2022 excludes approximately 3.7 million stock options and unvested restricted common shares, which were not dilutive and not included in the computation of net loss per common share. The weighted-average number of common shares outstanding diluted for the year ended December 31, 2021 excludes approximately 3.6 million stock options and unvested restricted common shares, which were not dilutive and not included in the computation of net loss per common share.