| Net Loss Per Share |
(9) Net Loss Per Share The Company analyzes the potential dilutive effect of stock options and warrants under the treasury stock method (as applicable), during periods of income, or during periods in which income is recognized related to changes in fair value of its liability-classified securities. The following table sets forth the computation of basic and diluted net loss per common share: | | | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | | | June 30, | | June 30, | | | | 2026 | | 2025 | | 2026 | | 2025 | | Net loss per share – Basic: | | | | | | | | | | | | | | Numerator | | | | | | | | | | | | | | Net loss | | $ | (14,820,815) | | $ | (6,220,058) | | $ | (32,427,198) | | $ | (11,757,127) | | Denominator | | | | | | | | | | | | | | Weighted-average common shares outstanding, basic | | | 37,518,778 | | | 19,486,231 | | | 32,710,046 | | | 18,464,877 | | Basic net loss per common share | | $ | (0.40) | | $ | (0.32) | | $ | (0.99) | | $ | (0.64) | | | | | | | | | | | | | | | | Net loss per share – Diluted: | | | | | | | | | | | | | | Numerator | | | | | | | | | | | | | | Net loss | | $ | (14,820,815) | | $ | (6,220,058) | | $ | (32,427,198) | | $ | (11,757,127) | | Numerator for diluted net loss per share | | $ | (14,820,815) | | $ | (6,220,058) | | $ | (32,427,198) | | $ | (11,757,127) | | Denominator | | | | | | | | | | | | | | Denominator for basic net loss per share | | | 37,518,778 | | | 19,486,231 | | | 32,710,046 | | | 18,464,877 | | Denominator for diluted net loss per share | | | 37,518,778 | | | 19,486,231 | | | 32,710,046 | | | 18,464,877 | | Diluted net loss per common share | | $ | (0.40) | | $ | (0.32) | | $ | (0.99) | | $ | (0.64) | |
Potentially dilutive securities, whose effect would have been antidilutive, were excluded from the computation of diluted earnings per share for each of the three and six months ended June 30, 2026 and 2025. Total antidilutive securities that were excluded from the computation of diluted weighted-average shares outstanding were as follows: | | | | | | | June 30, | | | 2026 | | 2025 | Stock options | | 2,826,054 | | 2,263,458 | Warrants | | 18,210,026 | | 5,558,333 | Restricted stock | | — | | 25,000 |
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