NET LOSS PER SHARE

6 Months Ended

Jun. 30, 2015

9. 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 generated a net loss 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 June 30,						For the Six Months Ended June 30,
	2015			2014			2015			2014
	(in thousands, except per share amounts)
Net loss	$	(41,851	)	$	(33,874	)	$	(103,410	)	$	(62,147	)
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 loss per share		41,357			39,862			41,341			38,847
Dilutive effect of outstanding warrants, stock awards 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 loss per share		41,357			39,862			41,341			38,847
Net loss per share — basic and diluted	$	(1.01	)	$	(0.85	)	$	(2.50	)	$	(1.60	)

*	For the three and six months ended June 30, 2015, stock options, restricted stock awards and stock appreciation rights to purchase approximately 7.0 million shares of common stock were excluded from the net loss per share calculation as their effect would have been anti-dilutive.

For the three and six months ended June 30, 2014, warrants, stock options, restricted stock awards, restricted stock units and stock appreciation rights to purchase approximately 5.9 million shares of common stock were excluded from the net loss per share calculation as their effect would have been anti-dilutive.