Company: OCEA
Filing Date: 2025-01-13
Form Type: 10-Q
Source: 0001493152-25-001880
Chunk: 163

Company: Ocean Biomedical, Inc.
Filing Date: 2025-01-13
Form: 10-Q
Item: Item 8
Chunk 163
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 issued to OTBC 13,257 shares of its common stock as consideration, pursuant to the Marketing Services Agreement, in the second
quarter of 2023. The fair value of this stock issuance of $83 thousand was recorded within other income (expense) in the Company’s
condensed consolidated statements of operations.

    30

11.
Net loss Per Share

The
Company computes basic loss per share using net loss attributable to stockholders and the weighted-average number of the Company’s
common stock shares outstanding during each period, less shares subject to repurchase under the Backstop Agreement. Diluted earnings
per share include shares issuable upon exercise of outstanding stock options and stock-based awards where the conversion of such instruments
would be dilutive. The Company’s potentially dilutive securities, which include stock options, earnout shares, and warrants to
purchase shares of common stock, 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 the Company’s stockholders’ is the same.

The
net loss per share for the basic and diluted earnings calculations for the three and nine months ended September 30, 2024 and 2023 is
as follows (in thousands, except share and per share data):

 Schedule of Earnings Per Share, Basic and Diluted

    2024  
    2023  
    2024  
    2023 

    Three Months Ended  September 30,  
    Nine months Ended  September 30, 

    2024  
    2023  
    2024  
    2023 
  
    Numerator: 

    Net loss 
    $(5,528) 
    $(14,087) 
    $(9,763) 
    $(97,610)
  
    Denominator: 

    Weighted-average shares of common stock outstanding, basic and diluted 
     27,487,283  
     26,605,147  
     27,446,868  
     25,980,292 
  
    Net loss per common share, basic and diluted 
    $(0.20) 
    $(0.53) 
    $(0.36) 
    $(3.76)

As
noted above, the following securities were excluded from