NET LOSS PER SHARE

3 Months Ended

Mar. 31, 2015

Earnings Per Share [Abstract]

NET LOSS PER SHARE

8. 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, therefore, they are excluded from the diluted net loss per share calculation.

	For the Three Months Ended March 31,
	2015			2014
	(in thousands, except per share amounts)
Net loss	$	(61,559	)	$	(28,273	)
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		41,324			37,821
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		41,324			37,821
Net loss per share — basic and diluted	$	(1.49	)	$	(0.75	)

* For the three months ended March 31, 2015, stock options, restricted stock awards and stock appreciation rights to purchase 6,938,993 shares of common stock were excluded from the net loss per share calculation as their effect would have been anti-dilutive.

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