Net Loss Per Share

12 Months Ended

Dec. 31, 2016

Basic net loss per share is calculated by dividing the net loss by the weighted average number of common shares outstanding for the period, without consideration for common stock equivalents. Diluted net loss per share is calculated by dividing the net loss by the weighted-average number of common share equivalents outstanding for the period determined using the treasury-stock method. Dilutive common stock equivalents are comprised of options outstanding under our stock option plans and convertible note payable, which was converted into common stock in January 2015. For all periods presented, there is no difference in the number of shares used to calculate basic and diluted net loss per share.

Potentially dilutive securities not included in the calculation of diluted net loss per share because to do so would be anti-dilutive are as follows (in common equivalent shares):



	Years ended December 31,
	2016	2015	2014
Common stock options	5,553,210	1,674,119	2,566,423
Convertible note payable	—	—	1,461,474
Total	5,553,210	1,674,119	4,027,897