Basic net loss per share is computed by dividing net loss available to common shareholders by the weighted-average number of common shares outstanding for the time period, which for basic net loss per share, does not include the weighted-average unvested restricted common stock that has been issued and is subject to forfeiture totaling 80,278 and 88,432 shares for the three months ended June 30, 2026 and 2025, respectively.

Dilutive common equivalent shares consist of stock options, warrants, and preferred stock and are calculated using the treasury stock method, which assumes the repurchase of common shares at the average market price during the period. Under the treasury stock method, options and warrants will have a dilutive effect when the average price of common stock during the period exceeds the exercise price of options or warrants. Common equivalent shares do not qualify as participating securities. In periods where the Company records a net loss, unvested restricted common stock and potential common stock equivalents are not included in the calculation of

diluted net loss per share as their effect would be anti-dilutive. The following is a summary of potentially dilutive securities excluded from the calculation of diluted net loss per share for the three months ended June 30, 2026 and 2025:


	2026	2025
Common Stock Warrants, Excluding Pre-funded Warrants	15,898,226	5,738,238
Employee Stock Options	675,866	408,161
Restricted Stock	80,278	88,432
Preferred Stock, as Converted into Common Stock	42,426	42,426
Common Stock Reserved for Future Issuance	1,638,662	570,846
Total	18,335,458	6,848,103