Basic loss per common share is computed using net loss divided by the weighted-average number of common shares outstanding during each period, excluding unvested restricted stock units (“RSUs”) and performance stock units ("PSUs").

Diluted loss per common share represents net loss divided by the weighted-average number of common shares outstanding during the period, including common stock equivalents. Common stock equivalents consist of shares subject to share-based awards with exercise prices less than the average market price of the Company’s common stock for the period, to the extent their inclusion would be dilutive.

The following table presents basic and diluted loss per common share for the three months ended March 31, 2025 and 2024:


	Three months ended March 31,
	2025		2024
Net loss	$	(14,385)	$	(12,608)
Weighted-average shares of common stock outstanding	4,614,510		4,581,221
Dilutive effect of share based compensation awards using the treasury stock method	—		—
Diluted weighted-average shares of common stock outstanding	4,614,510		4,581,221
Basic loss per common share	$	(3.12)	$	(2.75)
Diluted loss per common share	$	(3.12)	$	(2.75)

The computation of the weighted-average shares of common stock outstanding for diluted loss per common share excludes the following potential shares of common stock as their inclusion would have an anti-dilutive effect on diluted loss per common share:


	Three months ended March 31,
	2025	2024
Shares subject to unvested or deferred performance and restricted stock units	377,812	112,949
Shares subject to stock options outstanding	35,975	44,374