Basic and diluted net loss per share attributable to common stockholders was calculated as follows (in thousands, except share and per share amounts):


	Three Months Ended September 30, 2026								Nine Months Ended September 30, 2026
	Loss Allocation			Weighted Average Shares Outstanding		Loss Per Share - Basic and Diluted			Loss Allocation			Weighted Average Shares Outstanding		Loss Per Share - Basic and Diluted
Common Stock and pre-funded warrants	$	(43,152	)		13,525,610	$	(3.19	)	$	(72,623	)		5,412,840	$	(13.42	)
Series B Preferred Stock		(3,273	)		1,026	$	(3,190.41	)		(4,672	)		348	$	(13,416.90	)
Net loss	$	(46,425	)						$	(77,295	)

	Three Months Ended September 30, 2025								Nine Months Ended September 30, 2025
Common Stock	$	(21,723	)		550,061	$	(39.49	)	$	(21,948	)		460,382	$	(47.67	)
Net loss	$	(21,723	)						$	(21,948	)

(1) The weighted-average number of shares of as-converted Series B Preferred Shares used in the loss allocation was 1,025,849 and 348,190 for the three and nine months ended September 30, 2026, respectively.

For the computation of basic net loss per share attributable to common stockholders, the amount of weighted-average common shares outstanding excludes all shares of unvested restricted common stock as such shares are not considered outstanding for accounting purposes until vested.

The Company’s potential dilutive securities have been excluded from the computation of diluted net loss per share as the effect would be to reduce the net loss per share. Therefore, the weighted-average number of common shares outstanding used to calculate both basic and diluted net loss per share attributable to common stockholders is the same. The Company excluded potential common shares from the computation of diluted net loss per share attributable to common stockholders for the period presented because including them would have had an anti-dilutive effect:


	September 30, 2026		September 30, 2025
Outstanding unvested restricted stock awards		142,587		—
Outstanding and issued warrant to Parasa		228,671		—
Outstanding and issued common stock options		7,277,108		—
		7,648,366		—