Annual report pursuant to Section 13 and 15(d)

Net (loss) income per share

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Net (loss) income per share
12 Months Ended
Dec. 31, 2023
Net (loss) income per share [Abstract]  
Net (loss) income per share
10.
Net (loss) income per share
 
Basic (loss) income per share of common stock is computed by dividing net (loss) income by the weighted average number of shares of common stock outstanding during the period.  Diluted earnings or loss per share of common stock is computed similarly to basic loss or earnings per share except the weighted average shares outstanding are increased to include additional shares from the assumed exercise of any common stock equivalents, if dilutive. The Company’s warrants, stock options and RSUs, while outstanding, are considered common stock equivalents for this purpose. Diluted earnings is computed utilizing the treasury method for the warrants, stock options and RSUs. Incremental common stock equivalents that were antidilutive were excluded in calculating diluted income per share.  For the year ended December 31, 2023, no common stock equivalents were included in the diluted loss per share because such inclusion would be anti-dilutive given the net loss reported for the prior year period.


The following table presents the computation of weighted average common shares considered in the computation of diluted net (loss) income  per share:

     2023     2022
 
Denominator (weighted average shares)
   
     
 
Basic common shares outstanding
 

21,589,821
   

19,931,080
 
Dilutive stock options
   
     
589,165
 
Dilutive warrants
   
     
76,967
 
Diluted common shares outstanding
   
21,589,821
     
20,597,212
 


The following potential common shares were not considered in the computation of diluted net (loss) income per share as their effect would have been anti-dilutive for the year end periods presented below:

   
2023
   
2022
 
Series A, Series B and RDO warrants
   
7,204,299
      7,145,201  
Stock options
   
4,410,258
     
2,346,879
 
RSUs
   
801,700
     
 
Former Rexahn warrants
   
58,597
      60,713