Net Loss Per Common Share

12 Months Ended

Dec. 31, 2020

Basic net loss per share is calculated by dividing net loss by the weighted-average number of common shares outstanding during the period, without consideration for common stock equivalents. Diluted net loss per share is computed by dividing net loss by the weighted-average number of common stock equivalents outstanding for the period determined using the treasury-stock method. For purposes of this calculation, warrants for common stock, stock options, unvested RSUs, shares issuable under the ESPP and shares issuable upon conversion of the convertible notes 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 shares outstanding at the end of the respective periods presented below were excluded from the calculation of diluted net loss per share due to their anti-dilutive effect:


	December 31, 2020	December 31, 2019	December 31, 2018
Warrants for common stock	—	—	8,230
Common shares under option	4,176,518	4,677,929	5,303,723
Unvested RSUs	401,234	245,966	37,475
Shares issuable related to the ESPP	16,828	—	—
Shares issuable upon conversion of convertible notes	8,460,237	—	—
Total potential dilutive shares	13,054,817	4,923,895	5,349,428