Post-effective amendment to a registration statement that is not immediately effective upon filing

Net Loss Per Share

v3.22.1
Net Loss Per Share
12 Months Ended
Dec. 31, 2021
Earnings Per Share [Abstract]  
Net Loss Per Share
14. Net Loss Per Share
Net loss per share is computed by dividing net loss by the weighted average number of common stock outstanding during the period. In computing net loss per share, the Company’s unvested restricted common stock and warrants are not considered participating securities. Diluted loss per common share is the same as basic loss per common share for all periods presented because the effects of potentially dilutive items were anti-dilutive
given the Company’s net loss. Diluted net loss per common share adjusts basic net loss per share attributable to ordinary shareholders to give effect to all potential ordinary shares that were dilutive and outstanding during the period. For the year ended December 31, 2021 and 2020, no instrument was determined to have a dilutive effect.
Net loss per share calculations for all periods prior to the Business Combination have been retrospectively restated to the equivalent number of shares reflecting the exchange ratio established in the reverse capitalization. Subsequent to the Business Combination, net loss per share was calculated based on weighted average number of shares of common stock then outstanding.
The following table sets forth the computation of the Company’s net loss per share attributable to stockholders:
 
    
Year Ended December 31,
 
     (in thousands, except share and
per share data)
 
    
2021
    
2020
 
Net loss
   $ (56,093    $ (8,409
Weighted average common stock outstanding, basic and diluted
     52,888,268        49,676,523  
    
 
 
    
 
 
 
Net loss per common share, basic and diluted
   $ (1.06    $ (0.17
    
 
 
    
 
 
 
The following table discloses the weighted-average shares outstanding of securities that could potentially dilute basic net loss per share in the future that were not included in the computation of diluted net loss per share as the impact would be anti-dilutive:
 
    
Year Ended December 31,
 
    
2021
    
2020
 
CIC Restricted Stock
     9,876,930        654,960  
Warrants
     1,556,628        —