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Net Loss per Common Share
 9 Months Ended
Sep. 30, 2016
Net Loss per Common Share [Abstract]  
Net Loss per Common Share

5. Net Loss per Common Share



The following table sets forth the computation of basic and diluted net loss per share for the periods indicated:







 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 



 

Three Months Ended

 

Nine Months Ended



 

September 30,

 

September 30,



 

2016

 

2015

 

2016

 

2015

Basic and diluted net loss per common share calculation:

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) income

 

$

 (2,375,000)

 

$

 5,439,000 

 

$

 (9,338,000)

 

$

 1,715,000 

Excess of fair value of consideration transferred on conversion of Series B redeemable convertible preferred stock

 

 

 (1,214,000)

 

 

 -

 

 

 (3,580,000)

 

 

 -

Accretion of Series B redeemable convertible preferred stock

 

 

 -

 

 

 (7,163,000)

 

 

 (1,858,000)

 

 

 (9,329,000)

Net (loss) income attributable to common stockholders - basic

 

$

 (3,589,000)

 

$

 (1,724,000)

 

$

 (14,776,000)

 

$

 (7,614,000)

Changes in fair value of June 2016 Warrants

 

 

 -

 

 

 -

 

 

 (549,000)

 

 

 -

Net (loss) income attributable to common stockholders - diluted

 

$

 (3,589,000)

 

$

 (1,724,000)

 

$

 (15,325,000)

 

$

 (7,614,000)

Weighted average common shares outstanding - basic

 

 

 11,120,394 

 

 

 5,813,063 

 

 

 8,590,772 

 

 

 5,247,508 

Net loss per share of common stock - basic

 

$

 (0.32)

 

$

 (0.30)

 

$

 (1.72)

 

$

 (1.45)

Weighted average common shares outstanding - diluted

 

 

 11,120,394 

 

 

 5,813,063 

 

 

 8,648,914 

 

 

 5,247,508 

Net loss per share of common stock - diluted

 

$

 (0.32)

 

$

 (0.30)

 

$

 (1.77)

 

$

 (1.45)



The numerator for the diluted loss per share for the three and nine months ended September 30, 2016, has been increased by $0 and $549,000, respectively, due to a gain associated with the Company’s June 2016 offering warrant liability.





The following outstanding securities at September 30, 2016 and 2015 have been excluded from the computation of diluted weighted shares outstanding for the three and nine months ended September 30, 2016 and 2015, as they would have been anti-dilutive:







 

 

 

 

 

 

 

 

 

 

 

 



 

Three Months Ended

 

Nine Months Ended



 

September 30,

 

September 30,



 

2016

 

 

2015

 

2016

 

 

2015

Options

 

 

 736,938 

 

 

 631,126 

 

 

 736,938 

 

 

 631,126 

Warrants

 

 

 2,443,478 

 

 

 742,604 

 

 

 1,379,648 

 

 

 656,196 

Series B redeemable convertible preferred stock

 

 

 -

 

 

 150,557 

 

 

 -

 

 

 150,557 

Total

 

 

 3,180,416 

 

 

 1,524,287 

 

 

 2,116,586 

 

 

 1,437,879