The following common stock equivalents were excluded from the calculation of diluted net loss per share applicable to common stockholders for the periods indicated because including them would have had an anti-dilutive effect:

* As of June 30, 2020, this is comprised of 2,118,094 warrants to purchase common stock issued in connection with the Company’s April 2019 financing (refer to Note 10) and 27,548 warrants to purchase common stock issued in connection with the execution of the Loan Agreement in February 2020 (refer to Note 7). As of June 30, 2019, this was comprised solely of 2,118,344 warrants to purchase common stock issued in connection with the Company’s April 2019 financing.

** In November 2019, the 666 shares of preferred stock issued in connection with the Company’s April 2019 financing were converted into 666,000 shares of common stock.