Net Loss per Share

3 Months Ended

Mar. 31, 2013

Net Loss per Share

Net Loss per Share

3. Net Loss per Share

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, without consideration of common stock equivalents. The Company’s potentially dilutive shares, which include the Preferred Stock, outstanding stock options and unvested restricted stock 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 share amounts in the table below were excluded from the calculation of diluted net loss per share for the relevant periods during 2012 and 2013, prior to the use of the treasury stock method, due to their anti-dilutive effect (in thousands):

	As of March 31,
	2012	2013
Preferred stock	19,410	—
Outstanding stock options	1,786	2,783
Unvested restricted stock	535	287
	21,731	3,070