Net Income (Loss) Per Common Share

3 Months Ended

Mar. 31, 2017

Earnings Per Share [Abstract]

Net Income (Loss) Per Common Share

Net Loss Per Share

Basic net loss per common share is computed by dividing net loss available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted net loss per common share is computed by dividing net loss available to common shareholders by the weighted average number of common shares outstanding plus dilutive potential common shares as determined using the treasury stock method for outstanding stock options, restricted stock-based awards and shares issuable under the employee stock purchase plan, unless the result of adding such shares would be anti-dilutive. Unvested participating securities are included in the weighted daily average number of shares outstanding used in the calculation of diluted net income per common share, but are excluded from the calculation of diluted net loss per share. In a net loss position, basic and diluted net loss per common share are equal, since the weighted average number of shares used to compute diluted net loss per common share excludes anti-dilutive securities, including participating securities. As a result of the Company’s net loss for the three months ended March 31, 2017 and 2016, the Company has excluded all potential shares of common stock from the diluted net loss per share calculation as their inclusion would have had an anti-dilutive effect.

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

	Three Months Ended   March 31,
	2017			2016
	(In thousands, except share and per share amounts)
Numerator:
Net loss	$	(4,315	)	$	(3,730	)
Denominator:
Weighted average shares outstanding - basic and diluted	65,567,707			63,146,622
Total loss per share - basic and diluted:
Total net loss per share	$	(0.07	)	$	(0.06	)

The following weighted average potential shares of common stock have been excluded from the computation of diluted net loss per share because the effect of including these shares would have been anti-dilutive:

	Three Months Ended   March 31,
	2017	2016
Options to purchase common stock	4,455,596	6,888,435
Restricted stock awards, including participating securities	215,831	1,465,832
Total	4,671,427	8,354,267