Basic and Diluted Net Loss Per Share

9 Months Ended

Sep. 30, 2016

BASIC AND DILUTED NET LOSS PER SHARE

Basic net loss per share is computed by dividing the Company’s net loss by the weighted-average number of common shares outstanding during the period. Diluted net loss per share is computed by giving effect to all potentially dilutive securities, including stock options, common stock issuable pursuant to the 2011 Employee Stock Purchase Plan, restricted stock, restricted stock units and common stock warrants. Basic and diluted net loss per share was the same for all periods presented as the inclusion of all potentially dilutive securities outstanding was anti-dilutive.

The following outstanding shares of potentially dilutive securities were excluded from the calculation of diluted net loss per share for the three and nine months ended September 30, 2016 and 2015, as their effect was anti-dilutive:



	September 30,
	2016	2015
Options to purchase common stock	13,200,266	10,252,607
Restricted stock units	1,403,888	1,525,736
Warrants to purchase common stock	750,000	1,250,000
Shares of common stock to be issued upon conversion of Series A Preferred Stock	13,425,000	—
Shares of common stock to be issued upon conversion of convertible debt ("Notes")	17,320,971	18,790,996
Total	46,100,125	31,819,339

The table above does not reflect early conversion payment features of the Notes (see Notes 9 and 15) that may be settled, at the Company’s election, in cash or, subject to satisfaction of certain conditions, in shares of the Company’s common stock.