XML 33 R23.htm IDEA: XBRL DOCUMENT v3.5.0.2
Summary of Significant Accounting Policies (Tables)
6 Months Ended
Jun. 30, 2016
Accounting Policies [Abstract]  
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 three and six months ended June 30, 2016 and 2015 (in thousands, except per share amounts):

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2016

 

 

2015

 

 

2016

 

 

2015

 

Numerator for Basic and Diluted:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss used for basic calculation

 

$

(18,166

)

 

$

(15,972

)

 

$

(35,029

)

 

$

(25,432

)

Effect of revaluation of warrant liability

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(3,589

)

Adjusted net loss used for diluted calculation

 

$

(18,166

)

 

$

(15,972

)

 

$

(35,029

)

 

$

(29,021

)

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic weighted average number of shares outstanding

 

 

101,563

 

 

 

95,728

 

 

 

100,517

 

 

 

94,576

 

Effect of dilutive potential shares

 

 

-

 

 

 

-

 

 

 

-

 

 

 

1,106

 

Diluted weighted average number of shares outstanding

 

 

101,563

 

 

 

95,728

 

 

 

100,517

 

 

 

95,682

 

Net loss per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

(0.18

)

 

$

(0.17

)

 

$

(0.35

)

 

$

(0.27

)

Diluted

 

$

(0.18

)

 

$

(0.17

)

 

$

(0.35

)

 

$

(0.30

)

 

Anti-Dilutive Effect of Common Shares

The table below presents shares underlying stock options, restricted stock units and/or warrants 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 are excluded from the calculation due to their anti-dilutive effect for the three and six months ended June 30, 2016 and 2015 (shares in thousands):

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2016

 

 

2015

 

 

2016

 

 

2015

 

Weighted average number of anti-dilutive potential shares:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock options

 

 

15,891

 

 

 

14,015

 

 

 

15,331

 

 

 

13,102

 

Restricted stock units

 

 

640

 

 

 

-

 

 

 

428

 

 

 

-

 

Warrants

 

 

-

 

 

 

2,985

 

 

 

-

 

 

 

-

 

Total

 

 

16,531

 

 

 

17,000

 

 

 

15,759

 

 

 

13,102