LOSS PER COMMON SHARE

Basic and diluted net loss per common share is calculated by dividing net loss applicable to common stockholders by the weighted-average number of common shares outstanding during the period, without consideration of common stock equivalents. The Company’s potentially dilutive shares, which include outstanding stock options, restricted stock units, warrants, and shares issuable upon conversion of the 2019 and 2025 Notes, are considered to be common stock equivalents and are only included in the calculation of diluted net loss per share when their effect is dilutive.

Basic and diluted net loss per share is calculated as follows (net loss amounts are stated in thousands):



	Three Months Ended September 30,
	2018							2017
	Shares	Net Loss			EPS			Shares	Net Loss			EPS
Basic and diluted loss per share	40,717,440	$	(54,516	)	$	(1.34	)	38,654,086	$	(17,794	)	$	(0.46	)



	Nine Months Ended September 30,
	2018							2017
	Shares	Net Loss			EPS			Shares	Net Loss			EPS
Basic and diluted loss per share	40,149,184	$	(95,223	)	$	(2.37	)	38,301,893	$	(42,113	)	$	(1.10	)

The following common stock equivalents have been excluded because they were anti-dilutive (in thousands):



	Three Months Ended September 30,		Nine Months Ended September 30,
	2018	2017	2018	2017
Restricted stock units	477	145	335	175
Convertible debt	8,411	2,642	8,411	2,642
Options	7,390	7,515	7,202	6,960
Warrants	40	1,159	377	1,159
Total anti-dilutive shares	16,318	11,461	16,325	10,936