v3.26.1
Net Loss Per Share
 3 Months Ended
Mar. 31, 2026
Net Loss Per Share [Abstract]  
Net Loss Per Share

12. Net Loss Per Share

 

The following table summarizes the basic and diluted net loss per share attributable to stockholders (in thousands, except share and per share data):

 

   Three Months Ended March 31, 2026   Three Months Ended March 31, 2025 
   Loss Allocation   Weighted
Average
Shares
Outstanding		   Net Loss Per
Share,
Basic and
Diluted		   Loss
Allocation		   Weighted
Average
Shares
Outstanding		   Net Loss Per
Share,
Basic and
Diluted		 
Common Stock   (26,360)   55,172,410   $(0.48)  $(16,480)   41,679,560   $(0.40)
Series B preferred stock(1)   (5,460)   137,138   $(39.81)   (4,519)   137,138   $(32.95)
Net loss   (31,820)            $(20,999)          

 

(1)The weighted-average number of shares of as-converted Series B preferred stock used in the loss allocation was 11,428,149 for the three months ended March 31, 2026 and 2025.

 

For the computation of basic net loss per share attributable to stockholders, the amount of weighted-average shares outstanding excludes all shares of unvested restricted common stock as such shares are not considered outstanding for accounting purposes until vested. The amount of weighted-average shares outstanding includes the pre-funded warrants as the exercise price is negligible and these warrants are fully vested and exercisable.

The potential shares of common stock that were excluded from the computation of diluted net loss per share attributable to stockholders for the periods presented because including them would have had an anti-dilutive effect were as follows:

 

   Three Months Ended
March 31,		 
   2026   2025 
Outstanding employee warrants to purchase common stock   2,767,511    3,054,358 
Outstanding unvested restricted stock awards   1,023,870    1,630,982 
Outstanding and issued common stock options   5,297,351    3,265,460 
Outstanding unvested restricted stock units   396,145    
—
 
Outstanding and issued warrant to Paruka   971,930    596,930 
Total   10,456,807    8,547,730