Basic and diluted net loss per share is computed by dividing net loss by the weighted-average common shares outstanding. The weighted-average common shares outstanding used in the basic and diluted net loss per share calculation includes pre-funded

warrants issued in connection with the Company’s January 2025 underwritten offering and June 2023 follow-on public offering. As of June 30, 2025 and June 30, 2024, 385,899 and 204,081 pre-funded warrants were outstanding, respectively.

The following table sets forth the computation of the Company’s basic and diluted net loss per share (in thousands, except share and per share data):


	Three months ended June 30,						Six months ended June 30,
	2025			2024			2025			2024
Numerator:
Net loss	$	(55,247	)	$	(26,352	)	$	(89,332	)	$	(53,301	)
Denominator:
Weighted-average common shares outstanding, basic and diluted		35,024,592			25,649,043			34,179,364			25,229,456
Net loss per share, basic and diluted	$	(1.58	)	$	(1.03	)	$	(2.61	)	$	(2.11	)

The Company has generated a net loss in all periods presented, so the basic and diluted net loss per share are the same, as the inclusion of the potentially dilutive securities would be anti-dilutive. The Company excluded the following potential common shares from the computation of diluted net loss per share because including them would have had an anti-dilutive effect:


	Three months ended June 30,				Six months ended June 30,
	2025		2024		2025		2024
Options to purchase common stock		3,452,796		2,924,576		3,452,796		2,924,576
Restricted stock units		997,737		365,468		997,737		365,468
Employee stock purchase program		6,657		4,837		6,657		4,837