Net Loss Per Share

6 Months Ended

Jun. 30, 2019

Basic and diluted net loss per share for the periods set forth below is calculated as follows (in thousands, except share and per share amounts):



	Three Months Ended June 30,						Six Months Ended June 30,
	2019			2018			2019			2018
Numerator:
Net loss	$	(35,474	)	$	(68,882	)	$	(78,234	)	$	(130,437	)

Denominator:
Weighted-average number of common shares used in loss per share - basic and diluted	46,109,193			45,430,678			45,891,557			45,185,588
Loss per share - basic and diluted	$	(0.77	)	$	(1.52	)	$	(1.70	)	$	(2.89	)

The following potentially dilutive securities, prior to the use of the treasury stock method, have been excluded from the computation of diluted weighted-average shares outstanding, as they would be anti-dilutive. For the three and six months ended June 30, 2019 and 2018, respectively, all the Company’s options to purchase common stock, warrants, and restricted stock units outstanding were assumed to be anti-dilutive as earnings attributable to common stockholders was in a loss position.



	Three and Six Months Ended June 30,
	2019	2018
Options to purchase common stock	5,163,480	5,728,531
Warrants	—	120,533
Restricted stock units	684,148	295,491
Performance units	79,000	—

The Company has the option to settle the conversion obligation for the Convertible Notes in cash, shares or any combination of the two. As the Convertible Notes are not convertible as of June 30, 2019, they are not participating securities and they will not have an impact on the calculation of basic earnings or loss per share. Based on the Company’s net loss position, there is no impact on the calculation of dilutive loss per share during the three and six-month periods ended June 30, 2019 and 2018, respectively.