Net Loss Per Share

3 Months Ended

Mar. 31, 2022

8.	Net Loss Per Share

Basic and diluted net loss per share was calculated as follows for the three months ended March 31, 2022 and 2021:

	Three Months Ended March 31,
	2022			2021
Basic net loss per share:
Numerator:
Net loss (in thousands)	$	(122,055	)	$	(95,764	)
Denominator:
Weighted average common stock outstanding —basic		59,028,858			58,374,219
Dilutive effect of shares of common stock equivalents resulting from common stock options and restricted stock units		—			—
Weighted average common stock outstanding —diluted		59,028,858			58,374,219
Net loss per share—basic and diluted	$	(2.07	)	$	(1.64	)

The following common stock equivalents outstanding as of March 31, 2022 and 2021 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,
	2022		2021
Stock options		6,932,438		7,802,297
Restricted stock units		541,913		457,585
Employee stock purchase plan		26,323		10,462
		7,500,674		8,270,344

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.