Basic and diluted net loss per share attributable to common stockholders and Series A Preferred stockholders was calculated as follows (in thousands, except share and per share amounts):


	Three Months Ended June 30, 2026								Six Months Ended June 30, 2026
	Loss Allocation			Weighted Average Shares Outstanding		Loss Per Share - Basic and Diluted			Loss Allocation			Weighted Average Shares Outstanding		Loss Per Share - Basic and Diluted
Common Stock	$	(46,211	)		61,050,775	$	(0.76	)	$	(79,291	)		59,423,013	$	(1.33	)
Series A Preferred Stock (1)		(9,554	)		12,622	$	(756.93	)		(16,842	)		12,622	$	(1,334.34	)
Net loss	$	(55,765	)						$	(96,133	)

	Three Months Ended June 30, 2025								Six Months Ended June 30, 2025
	Loss Allocation			Weighted Average Shares Outstanding		Loss Per Share - Basic and Diluted			Loss Allocation			Weighted Average Shares Outstanding		Loss Per Share - Basic and Diluted
Common Stock	$	(24,552	)		28,431,158	$	(0.86	)	$	(54,985	)		15,932,206	$	(3.45	)
Series A Preferred Stock (2)		(7,582	)		8,781	$	(863.46	)		(15,318	)		4,439	$	(3,450.78	)
Net loss	$	(32,134	)						$	(70,303	)

(1) The weighted average number of shares of as-converted Series A Preferred Stock used in the loss allocation was 12,622,000 for both the three and six months ended June 30, 2026.

(2) The weighted average number of shares of as-converted Series A Preferred Stock used in the loss allocation was 8,780,522 and 4,438,505 for the three and six months ended June 30, 2025, respectively.

For the computation of basic net loss per share attributable to common stockholders, the amount of weighted-average common shares outstanding excludes all shares of unvested restricted common stock as such shares are not considered outstanding for accounting purposes until vested. The amount of weighted-average shares outstanding includes the pre-funded warrants as the exercise price is negligible and these warrants are fully vested and exercisable.

The Company’s potentially dilutive securities have been excluded from the computation of diluted net loss per share as the effect would be to reduce the net loss per share. Therefore, the weighted-average number of common shares outstanding used to calculate both basic and diluted net loss per share attributable to common stockholders is the same. The potentially dilutive securities are as follows:


	Three and Six Months Ended June 30, 2026		Three and Six Months Ended June 30, 2025
Outstanding and unvested RSAs		274,811		495,739
Outstanding and issued common stock options		13,162,759		9,348,097
Outstanding and unvested Restricted stock units		489,854		—
Outstanding and issued warrant to Parade		804,519		—
Total		14,731,943		9,843,836