8. NET LOSS PER SHARE

In connection with various public offerings, the Company sold pre-funded warrants to purchase shares of common stock to certain investors (the “Pre-Funded Warrants”). As of September 30, 2026 and 2025, there were 7,093,656 and 8,968,679, respectively, vested and exercisable Pre-Funded Warrants outstanding to purchase shares of common stock for the exercise price of $0.0001 per share, provided that, unless and until the Company obtains stockholder approval for the issuance of the shares of common stock underlying the Pre-Funded Warrants, a holder will not be entitled to exercise any portion of any Pre-Funded Warrant, which, upon giving effect to such exercise, would cause (i) the aggregate number of shares of our common stock beneficially owned by the holder (together with its affiliates) to exceed 4.99% (or at the election of such holder, 9.99% or 19.99%) of the number of shares of our common stock outstanding immediately after giving effect to the exercise, or (ii) the combined voting power of our securities beneficially owned by the holder (together with its affiliates) to exceed 4.99% (or at the election of such holder, 9.99% or 19.99%) of the combined voting power of all of our securities then outstanding immediately after giving effect to the exercise, as such percentage ownership is determined in accordance with the terms of the Pre-Funded Warrants. The Pre-Funded Warrants are included in the weighted-average common shares outstanding used in the calculation of basic net loss per share as the exercise price is negligible and the warrants are fully vested and exercisable.

Basic loss per share is computed by dividing net loss attributable to common stockholders and Pre-Funded Warrant holders by the weighted-average number of shares of common stock and Pre-Funded Warrants outstanding.

The Company’s potentially dilutive shares, which include outstanding stock options to purchase shares of common stock and RSUs, are considered to be common stock equivalents and are only included in the calculation of diluted net loss per share when their effect is dilutive. In March 2026, the Company’s previously outstanding Series A preferred stock was converted to shares of common stock on a one-to-one basis and included in the calculation of net loss per share as of the date of conversion.