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Note 9 - Net Loss Per Share
9 Months Ended
Sep. 30, 2019
Notes to Financial Statements  
Earnings Per Share [Text Block]
Note
9
— Net Loss Per Share
 
The following table (in thousands, except for loss per share) reconciles basic and diluted weighted average common shares outstanding for each of the
three
and
nine
months ended
September 30, 2019
and
2018
:
 
   
Three months ended
   
Nine months ended
 
   
September 30,
   
September 30,
 
   
2019
   
2018
   
2019
   
2018
 
Weighted average common shares outstanding:
                               
Basic    
107,181
     
106,639
     
107,062
     
106,476
 
Dilutive unvested stock, Convertible Preferred Stock, Common Stock Warrants and IPO Warrants
   
     
     
     
 
Diluted
   
107,181
     
106,639
     
107,062
     
106,476
 
                                 
Basic and diluted net loss per share attributable to common stockholders
  $
(0.06
)   $
(0.10
)   $
(0.29
)   $
(0.29
)
 
 
Potentially dilutive securities
not
included in the diluted net loss per share computations because their effect would have been anti-dilutive were as follows (in thousands):
 
   
Three months ended
   
Nine months ended
 
   
September 30,
   
September 30,
 
   
2019
   
2018
   
2019
   
2018
 
Unvested stock
(1)
   
989
     
513
     
768
     
483
 
Convertible Preferred Stock    
14,678
     
3,322
     
12,829
     
1,119
 
Common Stock Warrants    
1,801
     
425
     
1,576
     
143
 
IPO Warrants
(2)
   
12,082
     
12,082
     
12,082
     
12,082
 
Total potentially dilutive common shares
   
29,550
     
16,342
     
27,255
     
13,827
 
 

(
1
)
 
Does
not
include
3.2
million shares for each of the
three
and
nine
months ended
September 30, 2019
and
16.3
million shares for the
three
and
nine
months ended
September 30, 2018
, of unvested stock because the performance conditions had
not
yet been satisfied as of
September 30, 2019
and
2018
, respectively.
(
2
)
 
In
2015,
the Company issued warrants in connection with its initial public offering (the “IPO Warrants”).  The IPO Warrants are exercisable at a price of
$11.50
per share and expire on
July 24, 2022.  
The Company
may
redeem the IPO Warrants at a price of
$0.01
per IPO Warrant upon
30
days’ notice only if the last sale price of Company common stock is at least
$17.50
per share for any
20
trading days within a
30
-trading day period.  If the Company redeems the IPO Warrants in this manner, the Company will have the option to do so on a cashless basis with the issuance of an economically equivalent number of shares of Company common stock.