Net loss Per Share Attributable to Common Shareholders

9 Months Ended

Sep. 30, 2016

Earnings Per Share [Abstract]

Net loss Per Share Attributable to Common Shareholders

12. Net loss Per Share Attributable to Common Shareholders

As described in Note 2 the Company computes basic and diluted earnings (loss) per share using a methodology that gives effect to the impact of outstanding participating securities (the “two-class method”). For the three months and nine months ended September 30, 2016 and 2015, resulted in net losses, there is no income allocation required under the two-class method or dilution attributed to weighted average shares outstanding in the calculation of diluted loss per share. The 4,429,311 shares issued in the IPO on October 19, 2016, and related conversion of 27,135,884 preferred shares and exercise of the call option for 328,017 shares are not included in the calculation as of September 30, 2016.

Basic and diluted net loss per common share are calculated as follows (in thousands, except share and per share data):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2016			2015			2016			2015
Numerator:
Net loss	$	(14,694	)	$	(6,354	)	$	(40,300	)	$	(13,542	)
Loss attributable to noncontrolling interest		14			1			24			309
Net loss attributable to common stockholders – basic and diluted	$	(14,680	)	$	(6,353	)	$	(40,276	)	$	(13,233	)
Denominator:
Weighted-average common shares used in net loss per share attributable to common stockholders - basic and diluted		5,292,348			5,528,079			5,422,617			4,872,048
Net loss per share attributable to common stockholders - basic and diluted	$	(2.77	)	$	(1.15	)	$	(7.43	)	$	(2.72	)

The following Common Share equivalents, presented on an as converted basis, were excluded from the calculation of net loss per share for the periods presented, due to their anti-dilutive effect (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2016		2015		2016		2015
Convertible preferred shares		27,135,884		18,837,024		27,135,884		18,837,024
Dr. Emmanuelle Charpentier call option		328,017		328,017		328,017		328,017
Outstanding options		3,765,927		1,703,403		3,765,927		1,703,403
Unvested unissued restricted shares		—		134,047		—		134,047
Unvested issued restricted shares		97,744		—		97,744		—
		31,327,572		21,002,491		31,327,572		21,002,491