10. Net Loss per Common Share

Basic net loss per share is calculated by dividing net loss by the weighted average number of shares outstanding for the period. Diluted net loss per share is calculated by dividing net loss by the weighted average number of shares of common stock and potential dilutive common stock equivalents outstanding during the period if the effect is dilutive.

The calculation of diluted loss per share also requires that, to the extent the presumed issuance of additional shares as contingent consideration is dilutive to earnings (loss) per share for the period, adjustments to net income or net loss used in the calculation are required to remove the change in fair value of the contingent consideration liability for the period. Likewise, adjustments to the denominator are required to reflect the related dilutive shares.

A reconciliation of the numerators and denominators used in computing net loss from continuing operations per share is as follows (in thousands, except per share amounts):

	Three Months Ended June 30,						Six Months Ended June 30,
	2018			2017			2018			2017
Numerator:
Net loss	$	(20,002	)	$	(11,428	)	$	(36,135	)	$	(20,362	)
Denominator:
Weighted average number of shares outstanding—basic and diluted		26,298,666			3,154,515			15,003,493			3,117,220
Net loss per share—basic and diluted	$	(0.76	)	$	(3.62	)	$	(2.41	)	$	(6.53	)

Potentially dilutive securities that were not included in the diluted per share calculations because they would be anti-dilutive were as follows:

	June 30,
	2018		2017
Convertible preferred stock		—		28,159,724
Options to purchase common stock		5,545,004		2,843,852
Early exercised common stock subject to future vesting		938,545		1,118,047
Restricted stock accounted for as options		359,229		—
Warrants to purchase convertible preferred stock		—		763,501
Warrants to purchase common stock		850,686		96,610
Total		7,693,464		32,981,734

Up to 739,551 shares may be contingently issued, if certain performance conditions are met under our in-licensing agreements.