Quarterly report pursuant to Section 13 or 15(d)

Net Loss Per Share of Common Stock

Net Loss Per Share of Common Stock

3 Months Ended

Mar. 31, 2023

6. Net Loss Per Share of Common Stock

Diluted loss per share is the same as basic loss per share for all periods presented because the effects of potentially dilutive items were anti-dilutive given the Company’s net loss. Basic loss per share is computed by dividing net loss available to common stockholders by the weighted-average number of common shares outstanding, including the weighted average effect of the

pre-funded

warrants the Company issued in connection with the 2022 and 2023 Offerings, the exercise of which requires nominal consideration for the delivery of shares of common stock. As such, the Company has considered the 574,937 and 2,104,000 common shares underlying the

pre-funded

warrants that were unexercised as of December 31, 2022 and March 31, 2023, respectively, to be outstanding beginning on January 1, 2023 and March 2, 2023, respectively, for the purposes of calculating basic EPS.

The following table sets forth the computation of basic and diluted net loss per share for common stockholders (in thousands, except share and per share data):


	Three Months Ended March 31,
	2023			2022
Net loss	$	(1,371	)	$	(20,157	)
Weighted average shares of common stock outstanding		1,975,476			491,626

Net loss per share of common stock—basic and diluted	$	(0.69	)	$	(41.00	)

The following potentially dilutive securities outstanding at March 31, 2023 and 2022 have been excluded from the computation of diluted weighted average shares outstanding, as they would have been anti-dilutive:


	March 31,
	2023		2022
Options to purchase common stock		79,661		52,148
Warrants to purchase common stock		7,151,451		136,563

Total		7,231,112		188,711