The following table sets forth the computation of the basic and diluted net loss per share (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	$	(45,558	)	$	(28,098	)	$	(84,863	)	$	(56,245	)
Denominator:
Weighted-average common shares outstanding		65,991,171			59,550,771			63,880,337			59,442,646
Weighted-average shares used to compute net loss per common share, basic and diluted		65,991,171			59,550,771			63,880,337			59,442,646
Net loss per share, basic and diluted	$	(0.69	)	$	(0.47	)	$	(1.33	)	$	(0.95	)

Shares issuable pursuant to the 2024 Pre-Funded Warrants and the Exchange Warrants are included in the calculation of weighted-average shares of common stock outstanding, both basic and diluted, for the three and six months ended June 30, 2026 and 2025. These warrants are exercisable at any time for nominal consideration, and therefore, the shares thereunder are considered outstanding for the purpose of calculating basic and diluted net loss per share.

The following table sets forth the outstanding potentially dilutive securities that have been excluded from the calculation of diluted net loss per share because their inclusion would be anti-dilutive.


	As of June 30,
	2026		2025
Options to purchase common stock		14,409,364		10,408,456
Unvested restricted stock units		455,750		—
Estimated shares purchasable under the ESPP		33,762		24,737
		14,898,876		10,433,193