Net Loss Per Share

9 Months Ended

Sep. 30, 2021

Note 12. Net Loss Per Share

Basic net loss per share is computed by dividing net loss by the weighted-average number of shares of common stock outstanding during the period. Diluted loss per share is computed by dividing net loss by the weighted-average number of shares of common stock outstanding adjusted to give effect to potentially dilutive securities. Restricted stock and unit awards, stock options, and warrants have not been included in the diluted loss per share calculation as their inclusion would have had an anti-dilutive effect.

The potential common stock equivalents that have been excluded from the computation of diluted loss per share consist of the following:

	Nine months ended September 30,
	2021		2020
Outstanding stock options		5,131,263		3,693,943
Nonvested restricted stock and unit awards		1,153,364		1,230,651
Stock purchase warrants		216,944		715,199
		6,501,571		5,639,793

The following table presents a summary of stock purchase warrants outstanding at September 30, 2021:

Number of Warrants		Exercise Price	Expiration Date
22,253	$	5.68	3/30/2022
17,066	$	12.60	6/30/2022
151,364	$	12.60	8/18/2022
14,286	$	12.60	8/31/2022
11,975	$	15.30	12/22/2025
216,944

During the nine months ended September 30, 2021, a total of 498,255 warrants expired. The exercise price of these warrants ranged between $8.86 and $12.60.