Net Loss per Share (Tables)

6 Months Ended

Jun. 30, 2015

Calculation of Basic and Diluted Net Loss per Share

The following table presents the calculation of basic and diluted net loss per share applicable to common stockholders:


	Three months ended						Six months ended
	June 30, 2015			June 30, 2014			June 30, 2015			June 30, 2014
	(in thousands, except share and per share data)						(in thousands, except share and per share data)
Numerator:
Net loss	$	(10,689	)	$	(7,618	)	$	(21,384	)	$	(17,315	)
Accretion on preferred stock		—			—			—			(86,900	)
Net loss applicable to common stockholders	$	(10,689	)	$	(7,618	)	$	(21,384	)	$	(104,215	)

Denominator:
Weighted-average number of common shares – basic and diluted		26,614,671			19,652,056			23,340,590			10,987,692
Net loss per share applicable to common stockholders – basic and diluted	$	(0.40	)	$	(0.39	)	$	(0.92	)	$	(9.48	)

Anti-Dilutive Securities Excluded from Calculation of Diluted Net Loss per Share

The amounts in the table below were excluded from the calculation of diluted net loss per share, prior to the use of the treasury stock method, due to their anti-dilutive effect:

	Three months ended				Six months ended
	June 30, 2015		June 30, 2014		June 30, 2015		June 30, 2014
Outstanding stock options		1,975,620		1,387,081		1,975,623		1,387,081
Unvested restricted stock		295,206		605,997		295,206		605,997
Unvested restricted stock units		25,875		—		25,875		—
Total		2,296,701		1,993,078		2,296,704		1,993,078