Climb Bio, Inc. Earnings Per Share Disclosure
Note 10. Net Loss Per Share
Basic and diluted net loss per share are computed using the weighted-average number of shares of common stock outstanding for the period. The Company issued a pre-funded warrant in December 2025 (see Note 6). The shares of common stock underlying the pre-funded warrant are included in the calculation of basic and diluted net loss per share because they are considered shares issuable for little or no consideration under ASC 260, Earnings Per Share. The following table shows the computation of basic and diluted net loss per share (in thousands, except share and per share data):
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Year Ended December 31, |
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2025 |
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2024 |
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Numerator: |
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Net loss |
|
$ |
(59,851 |
) |
|
$ |
(73,897 |
) |
Denominator: |
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Weighted-average common shares outstanding, basic |
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|
66,692,145 |
|
|
|
48,163,301 |
|
Weighted-average common shares outstanding under the |
|
|
1,120,000 |
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|
|
— |
|
Weighted-average common shares outstanding, basic |
|
|
67,812,145 |
|
|
|
48,163,301 |
|
Net loss per share, basic and diluted |
|
$ |
(0.88 |
) |
|
$ |
(1.53 |
) |
The following outstanding shares of potentially dilutive securities were excluded from the computation of diluted net loss per share for the periods presented because their effect would have been anti-dilutive:
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December 31, |
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2025 |
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2024 |
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||
Stock options to purchase common stock |
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|
6,427,777 |
|
|
|
2,817,751 |
|
Unvested restricted stock units |
|
|
207,897 |
|
|
|
1,228,876 |
|
Shares of common stock issuable under |
|
|
23,944 |
|
|
|
— |
|
Total potentially dilutive shares |
|
|
6,659,618 |
|
|
|
4,046,627 |
|
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 5, 2026 | Showing above |
| 2024 | Mar 25, 2025 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.