8.Net Loss Per Common Share Net Loss Per Common ShareBasic and diluted net loss per common share was calculated as follows (in thousands, except share and per share amounts):
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Three Months Ended March 31, |
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2026 |
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2025 |
Numerator: |
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Net loss |
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$ |
(53,089) |
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$ |
(30,389) |
Denominator: |
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Weighted average shares used to compute net loss per share, basic and diluted ¹ |
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|
102,800,098 |
|
|
85,426,223 |
Net loss per share, basic and diluted |
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$ |
(0.52) |
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$ |
(0.36) |
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¹ Reflects the weighted average effect of the pre-funded warrants on the calculation of basic and diluted net loss per share. |
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The potentially dilutive shares that were excluded from the calculation of diluted net loss per share because their effect would have been anti-dilutive for the periods presented are as follows:
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Three Months Ended March 31, |
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2026 |
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2025 |
|
Options to purchase common stock |
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|
17,049,895 |
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|
14,636,148 |
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Unvested market-based stock options outstanding |
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|
668,750 |
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|
|
— |
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Unvested restricted stock units outstanding |
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|
402,807 |
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|
|
— |
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Employee stock purchase plan contingently issuable |
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|
76,863 |
|
|
|
226,160 |
|
|
|
|
18,198,315 |
|
|
|
14,862,308 |
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