Net loss per share

9 Months Ended

Sep. 30, 2020

14. Net loss per share

Basic and diluted net loss per share attributable to ordinary shareholders was calculated as follows (in thousands, except share and per share amounts):


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2020		2019		2020		2019
Numerator:
Net loss attributable to ordinary shareholders	$	(10,138)	$	(9,482)	$	(33,577)	$	(26,202)
Denominator:
Weighted average ordinary shares outstanding, basic and diluted		19,426,833		17,900,978		18,504,013		8,734,943
Net loss per share attributable to ordinary shareholders, basic and diluted	$	(0.52)	$	(0.53)	$	(1.81)	$	(3.00)

The Company’s potentially dilutive securities which include share options, and which prior to the completion of the IPO included convertible preferred shares, warrants to subscribe for Series A and Series B1 Preferred Shares, and unvested restricted shares, have been excluded from the computation of diluted net loss per share as the effect would be to reduce the net loss per share. Therefore, the weighted average number of ordinary shares outstanding used to calculate both basic and diluted net loss per share attributable to ordinary shareholders is the same. The Company excluded the following potentially dilutive ordinary shares, presented based on amounts outstanding at each period end, from the computation of diluted net loss per share attributable to ordinary shareholders for the periods indicated because including them would have had an anti‑dilutive effect:


	Nine Months Ended
	September 30,
	2020	2019
Warrants to subscribe for ordinary shares (as adjusted to reflect the impact of the share capital reorganization and issuance of bonus shares (Note 7))(1)(2)	—	114,320
Options to purchase ordinary shares	3,779,785	2,637,275
	3,779,785	2,751,595

(1)

On March 7, 2019, the holders of the Series B1 warrants to subscribe for Series B1 Preferred Shares agreed that 50% of the warrants would be exercised in conjunction with the IPO and 50% of the warrants would expire.

(2)

At September 30, 2019, 80,000 warrants were outstanding which were exercisable into 114,320 ordinary shares.