Basic and diluted earnings per share

6 Months Ended

Jun. 30, 2020

Basic and diluted earnings per share

Basic and diluted earnings per share

10Basic and diluted earnings per share

Diluted earnings per share are calculated by adjusting the weighted average number of ordinary shares outstanding, assuming conversion of all potentially dilutive ordinary shares. As the Company has incurred a loss, all potentially dilutive ordinary shares would have an antidilutive effect, if converted, and thus have been excluded from the computation of loss per share. The shares are presented without giving effect to the application of the treasury method or exercise prices that would be above the share price as of June 30, 2020 and June 30, 2019, respectively. In addition, the BMS warrants were not exercisable as of these dates since this would have required the prior designation of Collaboration Targets by BMS. This would generally result in a lower number of potentially dilutive ordinary shares as some stock option grants as well as the BMS warrants would have been excluded.

The potentially dilutive ordinary shares are summarized below:

	June 30,
	2020	2019
	(ordinary shares)
BMS warrants	8,060,500	8,435,000
Stock options under 2014 Plans	2,879,733	2,943,756
Non-vested RSUs and earned PSUs	645,636	842,859
Stock options under previous option plan	14,000	14,000
Employee share purchase plan	254	596
Total potential dilutive ordinary shares	11,600,123	12,236,211