Net Loss Per Share |
Net Income (Loss) Per Share
Basic and diluted earnings per share are calculated as follows: | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | 2016 | | 2015 | | 2016 | | 2015 | Numerator: | | | | | | | | Net income (loss) (in thousands) | $ | 5,389 |
| | $ | (15,660 | ) | | $ | (11,104 | ) | | $ | (26,197 | ) | Denominator: | | | | | | | | Weighted average number of common shares outstanding | 182,034,593 | | 161,383,398 | | 180,703,456 | | 148,647,581 | Effect of dilutive securities | | | | | | | | Stock options | 677,279 |
| | — |
| | — |
| | — |
| Warrants | 2,765,458 |
| | — |
| | — |
| | — |
| Dilutive potential common shares | 3,442,737 |
| | — |
| | — |
| | — |
| Shares used in calculating diluted earnings per share | 185,477,330 |
| | 161,383,398 |
| | 180,703,456 |
| | 148,647,581 |
| | | | | | | | | Basic net income (loss) per share | $ | 0.03 |
| | $ | (0.10 | ) | | $ | (0.06 | ) | | $ | (0.18 | ) | Diluted net income (loss) per share | $ | 0.03 |
| | $ | (0.10 | ) | | $ | (0.06 | ) | | $ | (0.18 | ) |
The following table sets forth the potentially dilutive common shares excluded from the calculation of net income (loss) per common share because their inclusion would be anti-dilutive (in thousands): | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | 2016 | | 2015 | | 2016 | | 2015 | Warrants to purchase common stock | 21,517 |
| | 22,308 |
| | 37,418 |
| | 22,308 |
| Options to purchase common stock | 6,442 |
| | 11,411 |
| | 10,309 |
| | 11,411 |
| Total | 27,959 |
| | 33,719 |
| | 47,727 |
| | 33,719 |
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