Net Loss Per Share

12 Months Ended

Dec. 31, 2025

Note 4—Net loss per share

Basic and diluted net loss per share attributable to common stockholders was calculated as follows:


	Years Ended December 31,
	2025			2024
Numerator:
Net loss attributable to common stockholders	$	(30,060,333	)	$	(22,649,572	)
Denominator:
Weighted-average common shares outstanding - basic and diluted		47,927,196			18,662,690
Net loss per share attributable to common shareholders - basic and diluted	$	(0.63	)	$	(1.21	)

Common stock warrants in the amount of 297,029 issued to our financial advisor, H.C. Wainwright & Co., LLC, were not outstanding as common shares as of December 31, 2025 and 2024, however included in the weighted-average common shares outstanding – basic and diluted as if they were considered outstanding.

The Company’s potential dilutive securities 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 common shares outstanding used to calculate both basic and diluted net loss per share attributable to common stockholders is the same. For the years ended December 31, 2025 and 2024, the Company excluded the following potential common shares from the computation of diluted net loss per share attributable to common stockholders for the period because including them would have had an anti-dilutive effect:


	As of December 31,
	2025		2024
Stock options issued and outstanding		18,031,425		6,403,818
Unvested restricted stock units		57		114
Warrants		23,644,268		10,609,855
Total		41,675,750		17,013,787

TuHURA Biosciences, Inc./NV 10-K