Note 14 - Net (Loss) Income Per Share

12 Months Ended

Dec. 31, 2018

Notes to Financial Statements

Earnings Per Share [Text Block]

1

4

. Net

(Loss)

Income

Per Share

Our basic net (loss) income per share attributable to Progenics amounts have been computed by dividing net (loss) income attributable to Progenics by the weighted-average number of common shares outstanding during the period. For

2018

and

2017

we reported net losses and, accordingly, potential common shares were

not

included since such inclusion would have been anti-dilutive. As a result, basic and diluted EPS are the same for

2018

and

2017.

For

2016,

we reported net income, and the computation of diluted earnings per share is based upon the weighted-average number of our common shares and dilutive effect of stock options (determined using the treasury stock method).

In applying the treasury stock method for the calculation of diluted EPS, amounts of unrecognized compensation expense are required to be included in the assumed proceeds in the denominator of the diluted EPS calculation unless they are anti-dilutive. We have made an accounting policy decision to calculate windfall tax benefits/shortfalls, for purposes of diluted EPS calculation, excluding the impact of deferred tax assets. This policy decision will apply when we have net income and windfall tax benefits/shortfalls are realizable.

The calculations of net (loss) income per share, basic and diluted, are as follows:

	Net (loss) income			Weighted-average
	attributable			shares
	to Progenics			outstanding		Per share
	(Numerator)			(Denominator)		amount
2018
Basic and diluted	$	(67,657	)		77,890	$	(0.87	)
2017
Basic and diluted	$	(51,013	)		70,284	$	(0.73	)
2016
Basic	$	10,806			70,003	$	0.15
Dilutive effect of stock options		-			152
Diluted	$	10,806			70,155	$	0.15

The following table summarizes anti-dilutive common shares or common shares where performance conditions have

not

been met, that were excluded from the calculation of the diluted net (loss) income per share:

	2018		2017		2016
Stock options		3,794		2,395		3,577
Contingent consideration liability (1)		2,619		2,824		1,644
Total securities excluded		6,413		5,219		5,221

___________________________________

(

1

)

Calculated as follows: (a) the contingent consideration liability balance at

December 31

divided by (b) the closing stock price of our common stock on the last day of trading of the fiscal year.