Quarterly report [Sections 13 or 15(d)]

NET LOSS PER SHARE

v3.25.2
NET LOSS PER SHARE
6 Months Ended
Jun. 30, 2025
NET LOSS PER SHARE  
NET LOSS PER SHARE

6. NET LOSS PER SHARE

Basic net loss per share is computed by dividing net loss attributable to common stockholders by the weighted average number of shares of common stock and pre-funded warrants outstanding during the period. The pre-funded warrants are considered common shares outstanding for the purposes of the basic net loss per share calculation as a result of the nominal cash consideration and lack of other contingencies for issuance of the underlying common shares. Diluted net loss attributable to common stockholders per share is computed by dividing net loss attributable to common stockholders, as adjusted, by the sum of the weighted average number of shares of common stock and the dilutive potential common stock equivalents then outstanding. Potential common stock equivalents consist of stock options, warrants, and convertible preferred shares. In accordance with ASC Topic 260, Earnings per Share, diluted earnings per share are the amount of earnings for the period available to each share of common stock outstanding during the reporting period and to each share that would have been outstanding assuming the issuance of common shares for all dilutive potential common shares outstanding during the reporting period. In the quarter ended June 30, 2024, the common warrants issued in October 2022 were dilutive. In all other periods presented, all outstanding warrants were antidilutive.

Three months ended June 30, 2024

    

Net loss

$

(919,371)

Dilutive effect of warrant liability

 

(5,855,431)

Net loss allocated to common shares

$

(6,774,802)

Weighted average common shares outstanding - basic

 

1,193,981

Dilutive effect of warrant liability

 

54,229

Weighted average common shares outstanding - diluted

 

1,248,210

Net loss per share - diluted

$

(5.43)

The following potentially dilutive securities have been excluded from the computation of diluted net loss per share since their inclusion would be antidilutive:

Three Months Ended

Six Months Ended

June 30, 

June 30, 

    

2025

    

2024

    

2025

    

2024

Warrants

 

522,008

264,379

522,008

404,414

Preferred shares on an as-converted-into-common-stock basis

 

16,743

133,086

16,743

 

133,086

Stock options

 

212,167

178,487

212,167

 

178,487

Total potentially dilutive shares

 

750,918

575,952

750,918

 

715,987