The following table sets forth the computation of the Company’s basic and diluted net loss per share.


	Year Ended December 31,
	2025			2024
	(in thousands, except share and per share amounts)
Numerator:
Net loss	$	(191,086	)	$	(227,461	)
Denominator:
Shares used in computing net loss per share		8,497,798			7,736,734
Net loss per share, basic and diluted	$	(22.49	)	$	(29.40	)

The following common stock equivalents were excluded from the computation of diluted net loss per share for the years ended December 31, 2025 and 2024 because including them would have been antidilutive:


	Year Ended December 31,
	2025		2024
Common stock options issued and outstanding		917,809		867,072
Restricted stock units issued and outstanding		417,772		595,691
Warrants to purchase common stock		12,759		12,759
Shares to be issued under ESPP		22,426		44,017
Total		1,370,766		1,519,539

All shares, options, stock units and warrants to purchase shares of common stock and loss per share amounts have been adjusted to give retroactive effect to the Reverse Stock Split as described in Note 1, for all periods presented above.