Net Loss per Share

6 Months Ended

12 Months Ended

Jun. 30, 2016

Dec. 31, 2015

Notes to Financial Statements

Net Loss per Share

The Company calculates basic and diluted net loss per share using the weighted-average number of shares of common stock outstanding during the period.

When the Company is in a net loss position, it excludes from the calculation of diluted net loss per share all potentially dilutive stock options, preferred stock and warrants, and the diluted net loss per share is the same as the basic net loss per share for such periods. If the Company was to be in a net income position, the weighted average number of shares used to calculate the diluted net income per share would include the potential dilutive effect of in-the-money securities, as determined using the treasury stock method.

The table below presents, the potentially dilutive securities that would have been included in the calculation of diluted net loss per share if they were not antidilutive for the periods presented.

	As of June 30,
	2016		2015
Stock options		4,679,092		2,843,041
Restricted stock awards		1,573,898		2,180,850
Preferred stock		20,662,200		23,148,000
Common stock warrants		8,876,336		5,959,668
Total		35,791,526		34,131,559

The Company calculates basic and diluted net loss per share using the weighted average number of shares of common stock outstanding during the period.

When the Company is in a net loss position, it excludes from the calculation of diluted net loss per share all potentially dilutive stock options, preferred stock and warrants, and the diluted net loss per share is the same as the basic net loss per share for such periods. If the Company was to be in a net income position, the weighted average number of shares used to calculate the diluted net income per share would include the potential dilutive effect of in-the-money securities, as determined using the treasury stock method.

The table below presents the potentially dilutive securities that would have been included in the calculation of diluted net loss per share if they were not antidilutive for the periods presented.

	Years Ended December 31,
	2015		2014
Stock options		3,243,041		44,615
MabVax Series A redeemable convertible preferred stock		—		137,607
MabVax Series B redeemable convertible preferred stock		—		156,247
MabVax Series C-1 redeemable convertible preferred stock		—		412,444
Series B redeemable convertible preferred stock		—		102,895
Series A-1 preferred stock		—		742,658
Series C preferred stock		—		47,023
Series D preferred stock		19,149,100		—
Series E preferred stock		3,333,300		—
Unvested restricted stock		2,300,850		—
Warrants to purchase common stock		7,209,668		—
Total		35,235,959		1,643,489