Basic and diluted net loss per share attributable to ordinary shareholders was calculated as follows (in thousands, except share and per share amounts):


	Three Months Ended June 30, 2025					Six Months Ended June 30, 2025
	Loss Allocation		Weighted Average Shares Outstanding	Loss Per Share, Basic and Diluted		Loss Allocation		Weighted Average Shares Outstanding	Loss Per Share, Basic and Diluted
Ordinary Shares	$	(19,004)	3,856,925	$	(4.93)	$	(32,904)	2,331,339	$	(14.11)
Company Series A Preferred Shares (1)	(2,786)		565	$	(4,930.97)	(4,034)		286	$	(14,104.90)
Net loss	$	(21,790)				$	(36,938)

(1) The weighted-average number of shares of as-converted Series A Preferred Shares used in the loss allocation was 565,435 and 285,824 for the three and six months ended June 30, 2025, respectively.

For the computation of basic net loss per share attributable to ordinary shareholders, the amount of weighted-average ordinary shares outstanding excludes all shares of unvested restricted stock and early-exercised stock options as such shares are not considered outstanding for accounting purposes until vested. The amount of weighted-average shares outstanding includes the pre-funded warrants as the exercise price is negligible and these warrants are fully vested and exercisable.

The potential ordinary shares that were excluded from the computation of diluted net loss per share attributable to ordinary shareholders for the periods presented because including them would have had an anti-dilutive effect were as follows:


	Three Months Ended June 30, 2025	Six Months Ended June 30, 2025
Outstanding unvested restricted stock units	438,386	438,386
Outstanding unvested restricted stock awards	118,864	118,864
Outstanding and issued common stock options	3,748,798	3,748,798
Total	4,306,048	4,306,048