Basic and diluted net loss per share is computed by dividing net loss attributable to common stockholders by the weighted-average number of common stock and pre-funded warrants outstanding during the period without consideration of common stock equivalents. For periods in which the Company generated a net loss, the Company does not include the potential impact of dilutive securities in diluted net loss per share, as the impact of these items is anti-dilutive. Diluted net loss per share is the same as basic net loss per common share since the effects of potentially dilutive securities are antidilutive.

The following equity instruments were excluded from the calculation of diluted net loss per share because their effect would have been anti-dilutive for the periods presented:


	Six months ended June 30,
	2025		2024
Awards under equity incentive plan		13,189,871		9,735,019
Non-vested restricted shares and restricted stock units		4,043,000		3,560,125
Warrants to purchase common stock(*)		77,793		77,793
Total		17,310,664		13,372,937

* Pre-funded warrants are excluded herein.

The following table calculates basic earnings per share of common stock and diluted earnings per share of common stock for the three and six months ended June 30, 2025 and 2024 (in thousands, except share and per share amounts):


	Three months ended June 30,						Six months ended June 30,
	2025			2024			2025			2024
Net loss	$	(30,401	)	$	(22,243	)	$	(57,040	)	$	(42,589	)
Net loss attributable to common stockholders		(30,401	)		(22,243	)		(57,040	)		(42,589	)
Undistributed earnings and net loss attributable to common stockholders, basic and diluted		(30,401	)		(22,243	)		(57,040	)		(42,589	)
Weighted-average common shares outstanding, basic and diluted		216,431,348			182,584,078			216,289,923			182,567,091
Basic and diluted net loss per share	$	(0.14	)	$	(0.12	)	$	(0.26	)	$	(0.23	)