Net Loss Per Share (Tables)

3 Months Ended

Mar. 31, 2026

Schedule of Basic and Diluted Net Loss Per Share

Basic and diluted net loss per share for the three months ended March 31, 2026 and 2025 are calculated as follows:


	Three Months Ended March 31,
	2026		2025
Numerator:
Net loss	$	(19,682,798)	$	(19,694,697)
Denominator:
Shares used to compute net loss per share, basic and diluted
Weighted-average common shares outstanding	69,101,910		36,478,176
Weighted-average shares underlying pre-funded warrants	—		2,135,477
Weighted-average common shares outstanding used to compute basic and diluted net loss per share	69,101,910		38,613,653
Net loss per share
Basic and diluted	$	(0.28)	$	(0.51)

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following table summarizes potential shares of common stock that were excluded from the diluted net loss per share calculation because of their anti-dilutive effect:


	Three Months Ended March 31,
	2026	2025
Warrants to purchase common stock	24,285,715	10,000,000
Options to purchase common stock	3,036,996	1,748,184
Service-based restricted stock units	1,272,830	573,720
Performance-and market-based restricted stock units	80,818	128,800
Convertible preferred stock	275	275



Total	28,676,634	12,450,979