XML 26 R9.htm IDEA: XBRL DOCUMENT v2.4.0.8
Basic and Diluted Net Loss Per Share
 6 Months Ended
Jun. 30, 2014
Earnings Per Share [Abstract]  
Basic and Diluted Net Loss Per Share
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, 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 table summarizes the Company’s calculation of basic and diluted net loss per share (in thousands, except share and per share amounts):
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2014
 
2013
 
2014
 
2013
Numerator
 
 
 
 
 
 
 
Net loss
$
(42,917
)
 
$
(25,825
)
 
$
(77,598
)
 
$
(52,350
)
Denominator
 
 
 
 
 
 
 
Weighted-average number of common shares used in net loss per share calculation
75,963,579

 
61,977,112

 
72,607,768

 
61,775,734

Less: Weighted-average shares subject to repurchase
(289
)
 
(19,173
)
 
(1,035
)
 
(24,363
)
Denominator: basic and diluted
75,963,290

 
61,957,939

 
72,606,733

 
61,751,371

Net loss per share, basic and diluted
$
(0.56
)
 
$
(0.42
)
 
$
(1.07
)
 
$
(0.85
)


The following outstanding shares of potentially dilutive securities were excluded from the calculation of diluted net loss per share for the periods presented as the effect was anti-dilutive:
 
Six Months Ended June 30,
 
2014
 
2013
Options to purchase common stock
11,259,064

 
10,235,862

Common stock subject to repurchase
—

 
14,303

Restricted stock units
2,406,795

 
1,900,299

Warrants to purchase common stock
1,250,000

 
1,500,000

Shares of common stock to be issued upon conversion of convertible debt ("Notes")
18,790,996

 
15,140,500

Total
33,706,855

 
28,790,964

This table does not reflect (1) the series of warrants issued to Archer-Daniels-Midland Company (“ADM”) in March 2013 for payment in stock or cash, at the Company’s election, of future annual fees for use and operation of a portion of the ADM fermentation facility in Clinton, Iowa (the “Clinton Facility”) under the Strategic Collaboration Agreement (the "Collaboration Agreement") (Note 10) and (2) early conversion payment features of the Notes (see Notes 5 and 11) 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.