Net Loss Per Share (Tables)

3 Months Ended

Mar. 31, 2017

Summary of Basic and Diluted Net Loss Per Share

Basic and diluted net loss per share was calculated as follows for the three months ended March 31, 2017 and 2016:

	Three Months Ended March 31,
	2017			2016
Basic net loss per share:
Numerator:
Net loss (in thousands)	$	(56,778	)	$	(30,543	)
Denominator:
Weighted average common stock outstanding—basic		37,269,148			31,643,216
Dilutive effect of shares of common stock equivalents resulting from common stock options and restricted stock units		—			—
Weighted average common stock outstanding—diluted		37,269,148			31,643,216
Net loss per share—basic and diluted	$	(1.52	)	$	(0.97	)

Summary of Anti-Dilutive Common Stock Equivalents Outstanding

The following common stock equivalents outstanding as of March 31, 2017 and 2016 were excluded from the computation of diluted net loss per share for the periods presented because including them would have been anti-dilutive:

	Three Months Ended March 31,
	2017		2016
Stock options		4,801,491		3,146,627
Restricted stock units		31,600		—
Employee stock purchase plan		4,676		3,851
Restricted stock awards		—		24,721
		4,837,767		3,175,199