NET LOSS PER SHARE

6 Months Ended

Jun. 30, 2016

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 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, would be excluded from the diluted net loss per share calculation.

	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2016			2015			2016			2015
	(in thousands, except per share amounts)
Net loss	$	(62,301	)	$	(41,851	)	$	(122,071	)	$	(103,410	)
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		46,157			41,357			45,927			41,341
Dilutive effect of outstanding 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		46,157			41,357			45,927			41,341
Net loss per share — basic and diluted	$	(1.35	)	$	(1.01	)	$	(2.66	)	$	(2.50	)

For the three and six months ended June 30, 2016 and 2015, stock options, RSAs and stock appreciation rights to purchase approximately 7.3 million and 7.0 million shares of common stock, respectively, were excluded from the net loss per share calculation as their effect would have been anti-dilutive.