Net Income (Loss) per Share - Basic and Diluted

9 Months Ended

Sep. 30, 2024

Net Income (Loss) per Share - Basic and Diluted

Basic and diluted net income (loss) per share is computed by dividing net income (loss) available to common shareholders by the weighted-average number of common shares outstanding for the time period, which for basic net income (loss) per share, does not include the weighted-average unvested restricted common stock that has been issued and is subject to forfeiture totaling 47,601 and 26,443 shares for the three and nine months ended September 30, 2024 and 2023.

Dilutive common equivalent shares consist of stock options, warrants, and preferred stock and are calculated using the treasury stock method, which assumes the repurchase of common shares at the average market price during the period. Under the treasury stock method, options and warrants will have a dilutive effect when the average price of common stock during the period exceeds the exercise price of options or warrants. Common equivalent shares do not qualify as participating securities. In periods where the Company records a net loss, unvested restricted common stock and potential common stock equivalents are not included in the calculation of diluted net income (loss) per share as their effect would be anti-dilutive. The following is a summary of potentially dilutive securities excluded from the calculation of diluted net income (loss) per share as of September 30, 2024 and 2023:


	2024	2023
Common Stock Warrants, Excluding Pre-funded Warrants	6,197,993	1,453,411
Employee Stock Options	162,320	92,425
Restricted Stock	47,601	26,443
Preferred Stock, as Converted into Common Stock	42,426	42,426
Common Stock Reserved for Future Issuance	451,926	18,388
Total	6,902,266	1,633,093