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Net Loss Per Share
3 Months Ended
Mar. 31, 2021
Earnings Per Share [Abstract]  
Net Loss Per Share

9.

Net Loss Per Share

Basic and diluted net loss per share was calculated as follows for the three months ended March 31, 2021 and 2020:

 

 

 

Three Months Ended March 31,

 

 

 

2021

 

 

2020

 

Basic net loss per share:

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

Net loss (in thousands)

 

$

(95,764

)

 

$

(126,740

)

Denominator:

 

 

 

 

 

 

 

 

Weighted average common stock outstanding

   —basic

 

 

58,374,219

 

 

 

51,908,760

 

Dilutive effect of shares of common stock

   equivalents resulting from common stock

   options and restricted stock units

 

 

 

 

 

 

Weighted average common stock outstanding

   —diluted

 

 

58,374,219

 

 

 

51,908,760

 

Net loss per share—basic and diluted

 

$

(1.64

)

 

$

(2.44

)

 

 

The following common stock equivalents outstanding as of March 31, 2021 and 2020 were excluded from the calculation of diluted net loss per share for the periods presented because including them would have been anti-dilutive:

 

 

 

Three Months Ended March 31,

 

 

 

2021

 

 

2020

 

Stock options

 

 

7,802,297

 

 

 

8,154,363

 

Restricted stock units

 

 

457,585

 

 

 

 

Employee stock purchase plan

 

 

10,462

 

 

 

26,356

 

 

 

 

8,270,344

 

 

 

8,180,719

 

 

Stock options and restricted stock units that are outstanding and contain performance-based vesting criteria for which the performance conditions have not been met are excluded from the calculation of common stock equivalents outstanding.