11. Net Loss Per Share

The Company computes basic net income (loss) per share by dividing net income (loss) by the weighted-average number of shares of common stock outstanding. Diluted net income per share includes the potential dilutive effect of common stock equivalents as if such securities were exercised during the period, when the effect is dilutive. Common stock equivalents may include outstanding stock options, which are included using the treasury stock method when dilutive. For the three and six months ended June 30, 2017 and 2016, the Company excluded the effects of potentially dilutive shares that were outstanding during those respective periods from the denominator as their inclusion would be anti-dilutive due to the Company’s net losses during those periods. The denominators for the three and six months ended June 30, 2017 reflect the issuance of 5,117,500 common shares in the Offering on April 5, 2017, on a weighted-average basis (see Note 9, Stockholders’ Equity, above).

The denominators used in the net loss per share computations are as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2017		2016		2017		2016
Basic:
Weighted average common shares outstanding		32,239,877		27,282,863		29,783,424		27,271,226

Diluted:
Weighted average common shares outstanding -Basic		32,239,877		27,282,863		29,783,424		27,271,226
Common stock options*		—		—		—		—

Denominator for diluted net loss per share		32,239,877		27,282,863		29,783,424		27,271,226

*	No amounts were considered as their effects would be anti-dilutive.

Basic and diluted net loss per share are computed as follows:


	Three Months Ended June 30,						Six Months Ended June 30,
	2017			2016			2017			2016
Net loss	$	(9,300	)	$	(13,075	)	$	(31,504	)	$	(23,766	)

Weighted-average common shares outstanding:
Basic and Diluted		32,239,877			27,282,863			29,783,424			27,271,226

Net loss per share, Basic and Diluted	$	(0.29	)	$	(0.48	)	$	(1.06	)	$	(0.87	)

As of June 30, 2017 and 2016, 3,118,786 and 2,256,700 stock options, respectively, were outstanding, which could potentially dilute basic earnings per share in the future, but were not included in the computation of diluted net loss per share because to do so would have been anti-dilutive.