Quarterly report pursuant to Section 13 or 15(d)

Net Loss Per Common Share

v3.3.0.814
Net Loss Per Common Share
9 Months Ended
Sep. 30, 2015
Earnings Per Share [Abstract]  
Net Loss Per Common Share
7. Net Loss per Common Share
 
Basic net loss per share is calculated by dividing the net loss by the weighted-average number of shares of common stock outstanding during the period, without consideration for common stock equivalents. Diluted net loss per share is computed by dividing the net loss by the weighted-average number of common stock and common stock equivalents outstanding for the period.
 
A calculation of basic and diluted net loss per common share follows:
 
 
 
For the three months ended
September 30,
 
For the nine months ended
September 30,
 
($ in thousands except share and per share amounts)
 
2015
 
2014
 
2015
 
2014
 
Net loss attributable to common stockholders
 
 
(18,161)
 
 
(4,592)
 
 
(36,392)
 
 
(16,673)
 
Weighted average common shares outstanding—basic and diluted
 
 
39,412,056
 
 
36,024,810
 
 
39,038,522
 
 
35,977,355
 
Basic and diluted net loss per common share
 
$
(0.46)
 
$
(0.13)
 
$
(0.93)
 
$
(0.46)
 
 
Included in common stock issued and outstanding as of September 30, 2015 are 7,670,935 shares of unvested restricted stock, which are excluded from the weighted average common stock outstanding since its effect would be anti-dilutive.
 
The Company’s potential dilutive securities which consist of unvested restricted stock, options, and warrants 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 common stock outstanding used to calculate both basic and diluted net loss per share is the same.
 
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:
 
 
 
For the three months ended
 
For the nine months ended
 
 
 
September 30,
 
September 30,
 
 
 
2015
 
2014
 
2015
 
2014
 
Warrants to purchase Common Stock
 
 
685,061
 
 
685,061
 
 
685,061
 
 
696,526
 
Options to purchase Common Stock
 
 
1,832,499
 
 
2,171,032
 
 
2,019,219
 
 
2,312,461
 
Unvested Restricted Stock
 
 
6,884,631
 
 
6,308,038
 
 
6,795,132
 
 
5,880,063
 
Unvested Restricted Stock Units
 
 
752,761
 
 
-
 
 
258,242
 
 
-
 
Total
 
 
10,154,952
 
 
9,164,131
 
 
9,757,654
 
 
8,889,050