Net Loss per Common Share

3 Months Ended

Mar. 31, 2020

Earnings Per Share [Abstract]

Net Loss per Common Share

4.  Net Loss per Common Share

Basic net loss per share is calculated by dividing the net loss by the weighted average number of shares of common stock outstanding for the period, without consideration for common stock equivalents. Shares of common stock underlying pre-funded warrants are considered outstanding as of their issuance date and are included in the basic net loss per share calculation as the exercise price was deemed non-substantive. Diluted net loss per share is computed by dividing the net loss by the weighted average number of common share equivalents outstanding for the period determined using the treasury-stock method. For purposes of this calculation, warrants, stock options, and restricted stock units are considered to be common stock equivalents and are only included in the calculation of diluted net loss per share when their effect is dilutive.

The amounts in the table below were excluded from the calculation of diluted weighted-average shares outstanding, prior to the use of the treasury stock method, due to their anti-dilutive effect:

	March 31,
	2020		2019
Warrants		7,984,650		20,718
Unvested restricted stock units		49,773		178,225
Outstanding stock options		148,254		365,789
Totals		8,182,677		564,732