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Net Loss Per Share
6 Months Ended 12 Months Ended
Jun. 30, 2026
Dec. 31, 2025
Earnings Per Share [Abstract]    
Net Loss Per Share

14.Net Loss Per Share

Net loss per common share is calculated in accordance with ASC 260, Earnings Per Share. Basic net loss per share is computed by dividing net loss by the weighted-average number of shares of common stock outstanding during the period, including 1,799,970 shares underlying pre-funded warrants and 3,880,181 vested stock options that are exercisable for nominal consideration. Diluted net loss per share is computed by dividing net loss by the weighted-average number of shares of common stock outstanding plus the dilutive effect of unvested restricted stock awards and outstanding warrants and options. The computation of diluted net loss per share does not include other potentially dilutive common stock equivalents in the weighted-average shares outstanding, as their effect would be anti-dilutive.

Securities that could potentially dilute loss per share in the future that were not included in the computation of diluted loss per share for the three and six months ended June 30, 2026 and 2025, are as follows:

  ​ ​ ​

Three and Six Months Ended June 30,

2026

  ​ ​ ​

2025

Common stock warrants

 

2,999,950

 

Unvested restricted stock awards

 

323,348

 

676,092

Unvested restricted stock units

 

2,599,815

 

Unvested stock options exercisable for nominal consideration

 

1,763,719

 

3,597,988

Stock options

 

3,780,865

 

242,064

 

11,467,697

 

4,516,144

11.

Net Loss Per Share

The following potentially dilutive securities have been excluded from the computation of diluted weighted-average shares of common stock outstanding, as they would be anti-dilutive:

December 31,

  ​ ​ ​

2025

  ​ ​ ​

2024

Convertible preferred stock

 

6,887,620

 

Common stock warrants

 

2,999,950

 

Unvested restricted stock awards

 

499,720

 

852,464

Stock options

 

5,474,986

 

4,397,540

 

15,862,276

 

5,250,004

Amounts in the above table reflect the common stock equivalents.

Included in basic weighted-average number of shares of common stock outstanding during the year ended December 31, 2025 and 2024 are the vested stock options to purchase 3,597,981 and 1,998,880 shares of common stock with an exercise price of $0.00001 per share, respectively.