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Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2015
Computation of Basic and Diluted Net Loss per Share

The following table sets forth the reconciliation of the numerator and denominator used in the computation of basic and diluted net loss per share for the years ended December 31, 2015, 2014 and 2013 (in thousands, except per share amounts):

 

     Year Ended December 31,  
     2015     2014     2013  

Numerator for Basic and Diluted:

      

Net loss used for basic calculation

   $ (55,868   $ (38,755   $ (43,337

Effect of revaluation of warrant liability

     (3,566     (7,708       
  

 

 

   

 

 

   

 

 

 

Adjusted net loss used for dilution calculation

   $ (59,434   $ (46,463   $ (43,337
  

 

 

   

 

 

   

 

 

 

Denominator:

      

Basic weighted average number of shares outstanding

     96,068        74,767        67,569   

Effect of dilutive potential shares

     837        1,767          
  

 

 

   

 

 

   

 

 

 

Diluted weighted average number of shares outstanding

     96,905        76,534        67,569   
  

 

 

   

 

 

   

 

 

 

Net loss per share:

      

Basic

   $ (0.58   $ (0.52   $ (0.64

Diluted

   $ (0.61   $ (0.61   $ (0.64
Anti-Dilutive Effect of Common Shares

The table below presents shares underlying stock options, employee stock purchase plan rights, warrants, restricted stock units and/or convertible preferred stock that were excluded from the calculation of the weighted average number of shares outstanding used for the calculation of diluted net loss per share. These were excluded from the calculation due to their anti-dilutive effect for the years ended December 31, 2015, 2014 and 2013 (shares in thousands):

 

     Year Ended December 31,  
      2015      2014      2013  

Weighted average number of anti-dilutive potential shares

        

Outstanding options

     13,681         11,722         10,296   

Warrants

                     6,074   
  

 

 

    

 

 

    

 

 

 

Total

     13,681         11,722         16,370