The following table sets forth the computation of basic and diluted net loss per share for the three months ended March 31, 2025, and 2024 (in thousands, except number of shares):


	Three months ended March 31,
		2025		2024
Numerator:
Net loss		$	(19,658)	$	(15,520)
Net loss attributable to noncontrolling interest		10		31
Net loss attributable to Barinthus Biotherapeutics plc shareholders		$	(19,648)	$	(15,489)
Denominator:
Weighted-average ordinary shares outstanding, basic		40,265,216		38,773,482

Weighted-average ordinary shares outstanding, diluted		40,265,216		38,773,482
Net loss per share attributable to ordinary shareholders, basic		$	(0.49)	$	(0.40)
Net loss per share attributable to ordinary shareholders, diluted		$	(0.49)	$	(0.40)

Since the Company was in a loss position for all periods presented, basic net loss per share is the same as diluted net loss per share, as the inclusion of all potential ordinary share equivalents outstanding would have been anti-dilutive. As of March 31, 2025, 8,133,504 potential ordinary shares issuable for stock options were excluded from the computation of diluted weighted-average shares outstanding because including these shares would have had an anti-dilutive effect (March 31, 2024: 7,645,076).