Quarterly report pursuant to Section 13 or 15(d)

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)

3 Months Ended

Mar. 31, 2024

The following tables set forth the computation of basic and diluted net loss per share of common stock for the three months ended March 31, 2024 and March 31, 2023 (in thousands, except share and per share amounts):


	Three Months Ended March 31, 2024
	Common stock

Net loss	$	(121,290)
Weighted average shares	859,381
Basic and diluted net loss per share	$	(141)

As the Company is in a net loss position as of March 31, 2024, the two-class method of computing net loss per share results in no allocation of undistributed losses to participating securities. As such, there is no allocation of undistributed losses to the Series C Preferred Stock outstanding for the three months ended March 31, 2024, and therefore the preferred stock is not reflected in the above table.


	Three Months Ended March 31, 2023
	Common stock

Net loss	$	(9,955)
Weighted average shares	48,845
Basic and diluted net loss per share	$	(204)

Schedule of Anti-dilutive Securities

The following outstanding securities have been excluded from the computation of diluted weighted shares outstanding for the three months ended March 31, 2024 and 2023, as they could have been anti-dilutive:


	Three Months Ended
	March 31,
	2024	2023
Stock options	7,543	7,558
Warrants on common stock1	11,969,063	17,254
Series C Preferred Stock (as-converted to common stock)2	22,357,897	—

1 The weighted average number of common shares outstanding for the three months ended March 31, 2023 includes the weighted average outstanding pre-funded warrants for the period because their exercise price was nominal. There were no pre-funded warrants outstanding as of March 31, 2024.

2 Subject to stockholder approval, each share of the Company’s Series C Preferred Stock will automatically convert to 1,000 shares of common stock, subject to certain beneficial ownership limitations.