Net Loss Per Share (Tables)

9 Months Ended

Sep. 30, 2017

Summary of Basic and Diluted Net Loss Per Share

Basic and diluted net loss per share was calculated as follows for the three and nine months ended September 30, 2017 and 2016:

	Three months ended September 30,						Nine months ended September 30,
	2017			2016			2017			2016
Basic net loss per share:
Numerator:
Net loss (in thousands)	$	(73,719	)	$	(37,796	)	$	(200,698	)	$	(103,086	)
Denominator:
Weighted average common stock outstanding—basic		37,470,912			32,975,897			37,367,802			32,218,204
Dilutive effect of shares of common stock equivalents resulting from common stock options and restricted stock units		—			—			—			—
Weighted average common stock outstanding—diluted		37,470,912			32,975,897			37,367,802			32,218,204
Net loss per share—basic and diluted	$	(1.97	)	$	(1.15	)	$	(5.37	)	$	(3.20	)

Summary of Anti-Dilutive Common Stock Equivalents Outstanding

The following common stock equivalents outstanding as of September 30, 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 September 30,				Nine months ended September 30,
	2017		2016		2017		2016
Stock options		5,259,925		3,631,465		5,259,925		3,631,465
Restricted stock units		30,100		—		30,100		—
Employee stock purchase plan		6,500		4,368		6,500		4,368
Restricted stock awards		—		2,313		—		2,313
		5,296,525		3,638,146		5,296,525		3,638,146