Note 10 – Net Loss Per Share

Basic net loss per share is computed by dividing net loss, which is allocated based upon the proportionate amount of weighted average shares outstanding, to each class of stockholder’s stock outstanding during the period. For the calculation of diluted net loss per share, net loss per share attributable to common stockholders for basic net loss per share is adjusted by the effect of dilutive securities, including awards under our equity compensation plans.

For the three months ended of June 30, 2026 and June 30, 2025, 9,262,392 and 109,946, respectively of potentially dilutive weighted average shares were excluded from the calculation of diluted net loss per share because their effect would have been anti-dilutive for the periods presented.

For the six months ended of June 30, 2026 and June 30, 2025, 7,479 and 127,944, respectively of potentially dilutive weighted average shares were excluded from the calculation of diluted net loss per share because their effect would have been anti-dilutive for the periods presented.

The shares underlying the Pre-Funded Warrants are included in basic weighted-average shares outstanding from the April 27, 2026 issuance date because the Pre-Funded Warrants are exercisable for nominal consideration and are not subject to any contingency other than the passage of time. The Common Warrants are excluded from basic earnings per share and are evaluated each period for their dilutive effect using the treasury stock method (or a method that reflects the Common Warrant’s cash-settlement feature); given the Company’s net losses, the Common Warrants were antidilutive and excluded from diluted earnings per share for the periods presented.