15. Net Loss Per Share Attributable to Common Stockholders

Basic net loss per share attributable to the Company’s common stockholders is computed by dividing the net loss attributable to the Company’s common stockholders by the weighted-average number of shares of common stock outstanding during the period. Diluted net loss per share is the same as basic net loss per share for all periods presented because the effects of potentially dilutive items were anti-dilutive given the Company’s net loss position in each period presented.

In connection with the Merger, all outstanding shares of Legacy Ionetix common stock and redeemable convertible preferred stock were converted into shares of the Company’s common stock based on the Conversion Ratio. In addition, all outstanding Legacy Ionetix options and warrants were assumed by the Company and converted into options and warrants, respectively, to purchase shares of the Company’s common stock, with the number of underlying shares and exercise price adjusted based on the Conversion Ratio. The weighted-average shares outstanding and net loss per share for periods prior to the Merger have been retroactively adjusted to reflect the Conversion Ratio.

The following table presents the calculation of basic and diluted net loss per share for the three and nine months ended September 30, 2026 and 2025:

The following outstanding potential shares of common stock were excluded from the calculation of diluted net loss per share because their effect would have been anti-dilutive for the periods presented: