| Net Loss Per Common Share |
8.Net Loss Per Common Share Net Loss Per Common ShareBasic and diluted net loss per common share was calculated as follows (in thousands, except share and per share amounts):
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2026 |
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2025 |
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2026 |
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2025 |
Numerator: |
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Net loss |
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$ |
(63,200) |
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$ |
(43,784) |
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$ |
(116,289) |
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$ |
(74,173) |
Denominator: |
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Weighted average shares used to compute net loss per share, basic and diluted * |
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104,453,732 |
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85,497,426 |
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103,631,483 |
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85,462,021 |
Net loss per share, basic and diluted |
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$ |
(0.61) |
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$ |
(0.51) |
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$ |
(1.12) |
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$ |
(0.87) |
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* Reflects the weighted average effect of the pre-funded warrants on the calculation of basic and diluted net loss per share. |
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The potentially dilutive shares that were excluded from the calculation of diluted net loss per share because their effect would have been anti-dilutive for the periods presented are as follows:
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Six Months Ended June 30, |
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2026 |
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2025 |
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Options to purchase common stock |
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17,866,963 |
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15,174,024 |
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Unvested market-based stock options outstanding |
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668,750 |
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— |
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Unvested restricted stock units outstanding |
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398,673 |
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— |
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18,934,386 |
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15,174,024 |
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