Basic per share data is computed by dividing net income or loss applicable to common stockholders by the weighted average number of common shares outstanding during the period. Diluted per share data is computed by dividing net income or loss applicable to common stockholders by the weighted average number of common shares outstanding during the period increased to include, if dilutive, the number of additional common shares that would have been outstanding as calculated using the treasury stock or if-converted method, as applicable. Pre-funded warrants are included in the weighted average shares outstanding calculation (as of the beginning of the period or the date of the grant, whichever was earlier) for basic and dilutive earnings per share given their nominal exercise price.

The following table provides a summary of instruments where underlying shares issuable upon exercise or conversion were excluded from the diluted loss per share calculation for the periods presented because their effect would be anti-dilutive. Additionally, the shares underlying the February 2025 Warrants, Funding Notes and Exchange Notes, each outstanding during the six months ended June 30, 2025, were excluded from diluted loss per share as their effect would be anti-dilutive.


	2026		2025
Outstanding stock options		667,413		49,210
Outstanding restricted stock units		314,561		-
Preferred stock		1,126		1,126
Outstanding warrants (Note 12)		1,817,714		155,345
Total		2,800,814		205,681

The following table sets forth the computation of basic net loss per common share for the periods indicated, in thousands except share and per share data:


	Three Months Ended June 30,						Six Months Ended June 30,
	2026			2025			2026			2025
Basic net income (loss) per common share calculation:
Net income (loss)	$	(9,006	)	$	5,151		$	(15,952	)	$	(12,250	)
Income attributable to 2025 Series A Warrants		—			(1,665	)		—			—
Income attributable to 2025 Series B Warrants		—			(2,295	)		—			—
Net income (loss) attributable to common stockholders – basic		(9,006	)		1,191			(15,952	)		(12,250	)

Weighted average common stock outstanding – basic		6,898,804			1,935,554			6,773,125			976,885
Net income (loss) per share of common stock – basic	$	(1.31	)	$	0.62		$	(2.36	)	$	(12.54	)

Due to the warrants being participating securities, the two-class method is used for the earnings per share calculation. The following table sets forth the computation of diluted net loss per common share for the periods indicated, in thousands except share and per share data:


	Three Months Ended June 30,						Six Months Ended June 30,
	2026			2025			2026			2025
Diluted net loss per common share calculation:
Net income (loss)	$	(9,006	)	$	5,151		$	(15,952	)	$	(12,250	)
Income attributable to 2025 Series A Warrants		—			(1,665	)		—			—
Income attributable to 2025 Series B Warrants		—			(2,295	)		—			—
Net income (loss) attributable to common stockholders		(9,006	)		1,191			(15,952	)		(12,250	)
Earnings attributable to March 2025 Series A and Series B Warrants		—			3,959			—			—
Change in fair value of warrant liabilities		—			(6,512	)		—			—
Net loss attributable to common stockholders – diluted	$	(9,006	)	$	(1,362	)	$	(15,952	)	$	(12,250	)

Weighted average common shares outstanding – diluted		6,898,804			8,366,199			6,773,125			976,885
Net loss per share of common stock – diluted	$	(1.31	)	$	(0.16	)	$	(2.36	)	$	(12.54	)