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Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 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 years ended December 31, 2016, 2015 and 2014 (in thousands, except per share amounts):

 

 

 

Year Ended December 31,

 

 

 

2016

 

 

2015

 

 

2014

 

Numerator for Basic and Diluted:

 

 

 

 

 

 

 

 

 

 

 

 

Net loss used for basic calculation

 

$

(62,906

)

 

$

(55,868

)

 

$

(38,755

)

Effect of revaluation of warrant liability

 

 

 

 

 

(3,566

)

 

 

(7,708

)

Adjusted net loss used for dilution calculation

 

$

(62,906

)

 

$

(59,434

)

 

$

(46,463

)

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Basic weighted average number of shares outstanding

 

 

101,826

 

 

 

96,068

 

 

 

74,767

 

Effect of dilutive potential shares

 

 

 

 

 

837

 

 

 

1,767

 

Diluted weighted average number of shares outstanding

 

 

101,826

 

 

 

96,905

 

 

 

76,534

 

Net loss per share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

(0.62

)

 

$

(0.58

)

 

$

(0.52

)

Diluted

 

 

(0.62

)

 

 

(0.61

)

 

 

(0.61

)

 

Anti-Dilutive Effect of Common Shares

The table below presents shares underlying stock options and restricted stock units 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 years ended December 31, 2016, 2015 and 2014 (shares in thousands):

 

 

 

Year Ended December 31,

 

 

 

2016

 

 

2015

 

 

2014

 

Weighted average number of anti-dilutive potential shares:

 

 

 

 

 

 

 

 

 

 

 

 

Stock options

 

 

15,592

 

 

 

13,681

 

 

 

11,722

 

Restricted stock units

 

 

576

 

 

 

 

 

 

 

Total

 

 

16,168

 

 

 

13,681

 

 

 

11,722