For periods in which the Company reports a net loss, potentially dilutive securities have been excluded from the computation of diluted net loss per share as their effects would be anti-dilutive. Therefore, the weighted average number of common shares outstanding used to calculate both basic and diluted net loss per share is the same. Shares of the Company's common stock underlying pre-funded warrants are included in the calculation of the basic and diluted earnings per share. The Company excluded the following potential common shares, presented based on amounts outstanding at period end, from the computation of diluted net loss per share because including them would have had an anti-dilutive effect:


	As of June 30,
	2026		2025
Unvested restricted stock		3,361,965		2,885,312
Outstanding options to purchase common stock		12,628,958		11,616,771
ESPP		74,517		132,053
Total		16,065,440		14,634,136

The following table summarizes the computation of basic and diluted net loss per share of the Company (in thousands, except share and per share amounts):


	Three Months Ended June 30,						Six Months Ended June 30,
	2026			2025			2026			2025
Numerator:
Net loss	$	(122,678	)	$	(102,138	)	$	(216,996	)	$	(210,468	)
Denominator:
Weighted average common shares outstanding, basic and diluted		104,326,669			101,995,184			103,797,276			95,023,977
Net loss per common share, basic and diluted	$	(1.18	)	$	(1.00	)	$	(2.09	)	$	(2.21	)