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Net Loss Per Share (Tables)
9 Months Ended
Sep. 30, 2016
Earnings Per Share [Abstract]  
Summary of Basic and Diluted Net Loss Per Share

Basic and diluted net loss per share was calculated as follows for the three and nine months ended September 30, 2016 and 2015:

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2016

 

 

2015

 

 

2016

 

 

2015

 

Basic net loss per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss (in thousands)

 

$

(37,796

)

 

$

(24,035

)

 

$

(103,086

)

 

$

(65,933

)

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common stock

   outstanding—basic

 

 

32,975,897

 

 

 

28,737,743

 

 

 

32,218,204

 

 

 

27,430,275

 

Dilutive effect of shares of common stock

   equivalents resulting from common stock

   options

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common stock

   outstanding—diluted

 

 

32,975,897

 

 

 

28,737,743

 

 

 

32,218,204

 

 

 

27,430,275

 

Net loss per share—basic and diluted

 

$

(1.15

)

 

$

(0.84

)

 

$

(3.20

)

 

$

(2.40

)

 

Summary of Common Stock Equivalents Outstanding

The following common stock equivalents outstanding as of September 30, 2016 and 2015 were excluded from the computation of diluted net loss per share for the periods presented because including them would have been anti-dilutive:

 

 

 

Three and Nine Months Ended September 30,

 

 

 

2016

 

 

2015

 

Stock options

 

 

3,631,465

 

 

 

2,510,900

 

Employee stock purchase plan

 

 

4,368

 

 

 

2,803

 

Restricted stock

 

 

2,313

 

 

 

71,319

 

 

 

 

3,638,146

 

 

 

2,585,022