The following table sets forth the computation of net loss per share, basic and diluted (in thousands, except share and per share data): | | | | | | | | | | Three Months Ended | | | | March 31, | | | | 2026 | | 2025 | | Numerator: | | | | | | | | Net loss | | $ | (43,320) | | $ | (64,387) | | Denominator: | | | | | | | | Weighted-average shares of common stock outstanding | | | 43,755,706 | | | — | | Weighted-average pre-funded warrants outstanding (1) | | | 1,311,952 | | | — | | Weighted-average shares of common stock outstanding, basic and diluted | | | 45,067,658 | | | 33,898,870 | | | | | | | | | | Net loss per share attributable to common stockholders, basic and diluted | | $ | (0.96) | | $ | (1.90) | |
(1)Represents the weighted average number of common shares issuable upon the exercise of pre-funded warrants issued in 2025, which are considered to be outstanding for the purposes of the basic and diluted net loss per share calculation from the date of issuance due to their nominal exercise price ($0.0001).
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