Fortress Biotech, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Net Income (Loss) per Common Share

Net Income (Loss) per Common Share

3 Months Ended

Mar. 31, 2019

14. Net Income (Loss) per Common Share

The following table sets forth the computation of earnings per share (amounts in thousands except share and per share data):

	Three Months Ended March 31,
	2019		2018
Net income (loss) attributable to common stockholders	$	1,392	$	(21,018	)

Weighted average shares outstanding - basic		48,506,994		42,518,403
Preferred stock, Series A		1,000,000		–
Stock options		378,835		–
Warrants		60,000		–
Unvested restricted stock		12,622,076		–
Unvested restricted stock units		1,243,231		–
Weighted average shares outstanding - diluted		63,811,136		42,518,403

Per share data:
Basic	$	0.03	$	(0.49	)
Diluted	$	0.02	$	(0.49	)

Basic income (loss) per share is calculated by dividing income (loss) by the weighted-average number of shares of common stock outstanding for the period, without consideration for common stock equivalents. Diluted income (loss) per share is computed by dividing income (loss) by the weighted-average number of common stock and common stock equivalents outstanding for the period.

The Company’s common stock equivalents, including unvested restricted stock, options, and warrants have been excluded from the computation of diluted income (loss) per share for the three months ended March 31, 2018 as the effect would be to reduce the income (loss) per share. Therefore, the weighted average common stock outstanding used to calculate both basic and diluted income (loss) per share is the same for the quarter ended March 31, 2018.

The following shares of potentially dilutive securities have been excluded from the computations of diluted weighted average shares outstanding, as the effect of including such securities would be anti-dilutive at the end of the three months ended March 31, 2018:

	March 31, 2018
Warrants to purchase Common Stock		894,189
Opus warrants to purchase Common Stock		1,880,000
Options to purchase Common Stock		1,085,501
Convertible Preferred Stock		1,000,000
Unvested Restricted Stock		11,050,943
Unvested Restricted Stock Units		1,778,154
Total		17,688,787