The following table presents the calculation of the Company’s basic and diluted net loss per share:


	Three Months Ended				Nine Months Ended
(in thousands, except share and per share data)	September 30, 2026		September 30, 2025		September 30, 2026		September 30, 2025
Numerator
Net loss	$	(103,568)	$	(88,977)	$	(307,002)	$	(309,175)
Denominator
Weighted average shares of common stock—basic and diluted	46,777,729		36,124,256		44,858,893		35,415,266
Net loss per share
Basic and Diluted	$	(2.21)	$	(2.46)	$	(6.84)	$	(8.73)

Since the Company was in a loss position for all periods presented, basic net loss per share is the same as diluted net loss per share, as the inclusion of all potential shares of common stock outstanding would have been anti-dilutive.

Pre-funded warrants issued in connection with the private investment in public equity transaction completed in 2025 are included in the denominator of basic net loss per share from their issuance date, as they are exercisable for nominal consideration and are considered outstanding common shares for purposes of calculating basic net loss per share.

The following table presents the total outstanding potentially dilutive shares excluded from the calculation of diluted net loss per share as their effect would be anti-dilutive for the periods presented:


	Three and Nine Months Ended
	September 30, 2026	September 30, 2025
Unvested restricted stock units	3,650,831	5,051,509
Unexercised performance stock options	77,863	104,315
Shares issuable under ESPP	80,593	139,692
Unvested performance stock units	21,001	26,000
Total	3,830,288	5,321,516