The following table sets forth the computation of the basic and diluted net loss per share for the three months ended March 31, 2026 and 2025 (in thousands, except share and per share data):


	Three Months Ended
	March 31,
	2026			2025
Numerator:
Net loss	$	(17,927	)	$	(30,754	)
Denominator:
Weighted-average shares of common stock outstanding, basic and diluted		104,573,657			53,359,338
Net loss per share, basic and diluted	$	(0.17	)	$	(0.58	)

The weighted average shares of common shares outstanding includes pre-funded warrants to purchase 17,260,613 shares of common stock and 1,250,000 shares of common stock for the three months ended March 31, 2026 and 2025, respectively.

Since the Company was in a loss position for all periods presented, basic net loss per share is the same as diluted net loss per share for all periods presented as the inclusion of all potential common stock outstanding would have been anti-dilutive.

The following outstanding potentially dilutive securities were excluded from the computation of diluted net loss per share for the three months ended March 31, 2026 and 2025 because including them would have been anti-dilutive:


	Three Months Ended
	March 31,
	2026		2025
Stock options to purchase common stock		16,220,743		12,099,944
Unvested RSUs		149,177		594,552
Unvested PSUs		—		72,000
ESPP estimated shares issuable		4,570		37,684
Total		16,374,490		12,804,180