Net Loss Per Share

3 Months Ended

Mar. 31, 2016

Earnings Per Share [Abstract]

Net Loss Per Share

7. Net Loss Per Share

The following table summarizes the computation of basic and diluted net loss per share (in thousands, except share and per share data):

	Three months ended March 31,
	2016			2015
Net loss, basic and diluted	$	(9,288	)	$	(14,060	)
Weighted-average shares outstanding		28,206,861			24,876,383
Less: weighted average shares subject to repurchase		(12,404	)		(27,154	)
Weighted average shares used to compute basic and diluted net loss per share		28,194,457			24,849,229
Net loss per share, basic and diluted	$	(0.33	)	$	(0.57	)

Basic net loss per share is computed by dividing the net loss by the weighted average number of common shares outstanding for the period. Diluted net loss per share is computed by dividing the net loss by the weighted average number of common shares and dilutive common stock equivalents outstanding for the period, determined using the treasury-stock method and the as-if converted method, for convertible securities, if inclusion of these is dilutive. Because the Company has reported a net loss for all periods presented, diluted net loss per common share is the same as basic net loss per common share for those periods. The following potentially dilutive securities outstanding at the end of the periods presented have been excluded from the computation of diluted shares outstanding, as the effect would be anti-dilutive:

	March 31,
	2016		2015
Unreleased restricted stock		202,291		—
Options to purchase common stock		3,170,586		3,315,947
Total		3,372,877		3,315,947