Earnings (Loss) per Share

9 Months Ended

Sep. 30, 2022

Earnings (Loss) per Share

Earnings (Loss) per Share

10.         Earnings (Loss) per Share

Basic and Diluted Loss per Share

For the three and nine months ended September 30, 2022 and 2021, basic and diluted net loss per share was determined by dividing net loss by the weighted average number of shares outstanding during the period. Diluted net loss per share is the same as basic net loss per share during the periods presented as the effects of the Company’s potential ordinary share equivalents are antidilutive since the Company had net losses for each period presented below.

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in thousands, except share and per share data)	2022		2021		2022		2021
Net loss for the period	$	(11,514)	$	(10,652)	$	(34,407)	$	(36,387)
Weighted average number of shares outstanding		2,732,749		2,021,070		2,539,408		1,570,389
Basic and diluted loss per share	$	(4.21)	$	(5.27)	$	(13.55)	$	(23.17)

The following ordinary share equivalents were excluded from the calculations of diluted loss per share as their effect would be anti-dilutive since the Company had net losses for each period presented below:

	Three Months Ended		Nine Months Ended
	September 30,		September 30,
	2022	2021	2022	2021
Stock option awards	77,545	51,265	77,545	51,265
Restricted share units	40,840	31,892	40,840	31,892
Warrants	262,384	424,773	262,384	424,773