NET LOSS PER COMMON SHARE

9 Months Ended

Sep. 30, 2020

Basic and diluted net loss per common share is calculated by dividing net loss applicable to common stockholders by the weighted-average number of common shares outstanding during the period. The Company’s potentially dilutive shares, which include outstanding stock options, restricted stock units, warrants, and shares issuable upon conversion of the 2025 Notes, are considered to be common stock equivalents and are not included in the calculation of diluted net loss per share because their effect is anti-dilutive.

Basic and diluted net loss per share is calculated as follows (net loss amounts are stated in thousands):


	Three Months Ended September 30,
	2020					2019
	Shares	Net Loss		Loss per common share		Shares	Net Loss		Loss per common share
Basic and diluted loss per share	50,929,575	$	(22,549)	$	(0.44)	42,943,828	$	(36,490)	$	(0.85)







	Nine Months Ended September 30,
	2020					2019
	Shares	Net Loss		Loss per common share		Shares	Net Loss		Loss per common share
Basic and diluted loss per share	46,289,103	$	(47,809)	$	(1.03)	42,109,618	$	(116,168)	$	(2.76)

The following common stock equivalents have been excluded because they were anti-dilutive:


	Three Months Ended September 30,		Nine Months Ended September 30,
	2020	2019	2020	2019
Restricted stock units	1,400,555	808,939	1,384,748	704,023
Convertible debt	7,113,402	7,113,402	7,113,402	7,805,418
Options	8,397,889	7,526,813	8,351,302	7,709,002

Total anti-dilutive shares	16,911,846	15,449,154	16,849,452	16,218,443