The following table sets forth the computation of basic and diluted net loss per share of common stock for the years ended December 31, 2025 and 2024 (in thousands, except share and per share data):


	Year ended December 31,
	2025			2024
Net loss	$	(25,205	)	$	(63,102	)
Weighted average common shares used in computing net loss per share, basic and diluted (1)		8,045,145			358,229
Net loss per share, basic and diluted	$	(3.13	)	$	(176.15	)

(1)

Included within weighted average common shares outstanding for the years ended December 31, 2025 and 2024 are 113,430 and 114,004, respectively, common shares issuable upon the exercise of warrants with nominal exercise pricing. Per ASC 260, Earnings Per Share, the warrants are exercisable at any time for nominal consideration, and as such, the shares are considered outstanding for the purpose of calculating basic and diluted net loss per share attributable to common stockholders.

The Company’s potentially dilutive securities, which consist primarily of stock options and convertible preferred stock, have been excluded from the computation of diluted net loss per share because including them would have had an anti-dilutive impact. Therefore, the weighted average number of common shares outstanding used to calculate both basic and diluted net loss per share attributable to common stockholders is the same.

The following common stock equivalents, presented based on amounts outstanding at each period end, have been excluded from the calculation of diluted net loss per share because including them would have an antidilutive effect (in thousands):


	December 31, 2025		December 31, 2024
Redeemable convertible preferred stock		—		2,799
Restricted stock - unvested		7		6
Common stock warrants		3		3
Stock options		2,588		457
Total common stock equivalents		2,598		3,265