Note 11 - Net Loss Per Ordinary Share

12 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Earnings Per Share [Text Block]

1

1

. Net loss per

ordinary

share

The following table provides a reconciliation of the numerator and denominator used in computing basic and diluted net loss per share:

	Year ended December 31,
( $ i n thousands )	201 6			201 5			201 4
Numerator:
Net loss per ordinary share	$	(22,349	)	$	(24,478	)	$	(22,174	)
Denominator:
Weighted-average ordinary shares outstanding-basic		22,353,713			21,781,933			17,310,148
Dilutive effect of ordinary share equivalents resulting from ordinary share options, ordinary share warrants and preferred ordinary shares (as converted)		—			—			—
Weighted-average ordinary shares outstanding-diluted		22,353,713			21,781,933			17,310,148

The following numbers of outstanding ordinary share options, restricted shares and RSUs were excluded from the computation of diluted net loss per share for the periods presented because their effect would have been anti-dilutive:

	Year ended December 31,
	201 6		201 5		201 4
Options to purchase ordinary shares		1,065,655		1,108,240		1,194,612
Unvested restricted shares and RSUs		329,465		366,739		275,500