Quarterly report pursuant to Section 13 or 15(d)

Net Loss Per Common Share

Net Loss Per Common Share

3 Months Ended

Mar. 31, 2022

6. Net Loss Per Common Share

Basic net loss per share of common stock is based on the weighted-average number of shares of common stock equivalents outstanding during the period. 3,125,000

pre-funded

warrants to purchase common stock were included in the weighted-average common stock share equivalents outstanding for the three months ended March 31, 2022.

In all periods presented, the Company’s outstanding stock options were excluded from the calculation of net loss per share because their effect would be antidilutive. The following table sets forth the computation of basic and diluted net loss per share (in thousands, except share and per share amounts):


	Three Months Ended March 31,
	2022			2021
Numerator:
Net loss	$	(27,769	)	$	(17,551	)
Denominator:
Weighted average number of:
Common stock shares outstanding		84,677,939			68,946,092
Pre-funded warrants outstanding		3,125,000			—
Total		87,802,939			68,946,092
Net loss per share	$	(0.32	)	$	(0.25	)

The following table shows the total outstanding securities considered anti-dilutive and therefore excluded from the computation of net loss per share (in thousands):


	Three Months Ended March 31,
	2022		2021
Common stock options		14,180		10,052
Incentive awards		101		101

Total		14,281		10,153