Quarterly report pursuant to Section 13 or 15(d)

Net Loss per Share

v3.21.2
Net Loss per Share
6 Months Ended
Jun. 30, 2021
Earnings Per Share [Abstract]  
Net Loss Per Share

10. Net Loss Per Share

Net Loss Per Share

The following table sets forth the calculation of basic and diluted net loss per share during the periods presented (in thousands, except share and per share data):

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss

 

$

(12,962

)

 

$

(9,500

)

 

$

(25,956

)

 

$

(19,512

)

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average shares of common stock outstanding

 

 

51,904,701

 

 

 

42,936,991

 

 

 

51,483,709

 

 

 

37,902,294

 

Net loss per share, basic and diluted

 

$

(0.25

)

 

$

(0.22

)

 

$

(0.50

)

 

$

(0.51

)

 

Basic net loss per common share is calculated by dividing net loss by the weighted-average number of shares of common stock and pre-funded warrants outstanding during the period, without consideration of common share equivalents. Diluted net loss per common share is computed by dividing net loss by the weighted-average number of shares of common stock, pre-funded warrants and common share equivalents outstanding for the period. The pre-funded warrants are included in the computation of basic and diluted net loss per common share as the exercise price is negligible and the pre-funded warrants are fully vested and exercisable. Common share equivalents are only included in the calculation of diluted net loss per common share when their effect is dilutive.

Potential dilutive securities, which include, vested and unvested options to purchase common stock and unvested common stock outstanding that were exercised early have been excluded from the computation of diluted net loss per share as the effect is antidilutive. Therefore, the denominator used to calculate both basic and diluted net loss per common share is the same in all periods presented.

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

 

 

 

Three and Six Months Ended

June 30,

 

 

 

 

2021

 

 

2020

 

 

Stock options to purchase common stock

 

 

7,311,862

 

 

 

4,478,042

 

 

Common stock subject to future vesting

 

 

2,952

 

 

 

19,441

 

 

Total

 

 

7,314,814

 

 

 

4,497,483