Note 8 - Net Loss Per Share Attributable to Common Stockholders

3 Months Ended

Mar. 31, 2016

Net Loss per Share Attributable to Common Stockholders

The Company computes basic and diluted loss per share using a methodology that gives effect to the impact of outstanding participating securities (the “two-class method”). As the three months ended March 31, 2016 and 2015 resulted in net losses, there is no income allocation required under the two-class method or dilution attributed to weighted-average shares outstanding in the calculation of diluted loss per share.

The following Common Stock equivalents, presented on an as converted basis, were excluded from the calculation of net loss per share for the periods presented, due to their anti-dilutive effect:

	Three Months Ended March 31,
	2016		2015
Outstanding stock options		2,203,975		1,635,219
Outstanding ESPP shares		8,841		2,859
		2,212,816		1,638,078