Earnings Per Share
For purposes of this calculation, stock warrants, outstanding stock options and unvested restricted shares are considered common stock equivalents using the treasury stock method, and are the only such equivalents outstanding.
Basic net loss and diluted net loss per share data were computed as follows (in thousands except per share data):
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, |
|
2016 |
|
2015 |
Numerator: |
|
|
|
Net (loss) for basic earnings per share |
$ |
(5,254 |
) |
|
$ |
(4,278 |
) |
Change in fair value of warrant liability |
17 |
|
|
— |
|
Net (loss) for diluted earnings per share |
$ |
(5,271 |
) |
|
$ |
(4,278 |
) |
Denominator: |
|
|
|
Weighted-average basic common shares outstanding |
13,547 |
|
|
9,704 |
|
Assumed conversion of dilutive securities: |
|
|
|
Common stock purchase warrants |
— |
|
|
— |
|
Potentially dilutive common shares |
— |
|
|
— |
|
Denominator for diluted earnings per share – adjusted weighted-average shares |
13,547 |
|
|
9,704 |
|
Basic net (loss) per share |
$ |
(0.39 |
) |
|
$ |
(0.44 |
) |
Diluted net (loss) per share |
$ |
(0.39 |
) |
|
$ |
(0.44 |
) |
The following table summarizes equivalent units outstanding that were excluded from the earnings per share calculation because their effects were anti-dilutive (in thousands):
|
|
|
|
|
|
|
|
Three Months Ended March 31, |
|
2016 |
|
2015 |
Common stock purchase warrants |
4,362 |
|
|
1,136 |
|
Stock options |
1,928 |
|
|
1,888 |
|
Restricted shares of common stock |
98 |
|
|
122 |
|
|
6,388 |
|
|
3,146 |
|
|