NET LOSS PER SHARE

3 Months Ended

Mar. 31, 2014

Earnings Per Share [Abstract]

NET LOSS PER SHARE

11. NET LOSS PER SHARE

Basic net loss per share is computed by dividing net loss by the weighted-average number of shares of common stock outstanding. Diluted net loss per share is computed by dividing net loss by the weighted-average number of shares of common stock and dilutive common stock equivalents outstanding. Given that the Company is in a loss position for each of the periods presented, there is no difference between basic and diluted net loss per share since the effect of common stock equivalents would be anti-dilutive and are, therefore, excluded from the diluted net loss per share calculation.

	For the Three Months Ended March 31,
	2014			2013
	(in thousands, except per share amounts)
Net loss	$	(28,273	)	$	(42,084	)
Weighted-average number of shares of common stock and common stock equivalents outstanding:
Weighted-average number of shares of common stock outstanding for computing basic earnings per share		37,821			31,813
Dilutive effect of outstanding warrants and stock options after application of the treasury stock method*		—			—
Weighted-average number of shares of common stock and dilutive common stock equivalents outstanding for computing diluted earnings per share		37,821			31,813
Net loss per share — basic and diluted	$	(0.75	)	$	(1.32	)

* Warrants, stock options, restricted stock awards, restricted stock units and stock appreciation rights to purchase approximately 6,096,000 and 5,997,000 shares of common stock were excluded from the net loss per share calculation for the three months ended March 31, 2014 and 2013, respectively, as their effect would have been anti-dilutive.