Net Loss Per Share

6 Months Ended

Jun. 30, 2022

8.	Net Loss Per Share

Basic and diluted net loss per share was calculated as follows for the three and six months ended June 30, 2022 and 2021:

	Three Months Ended June 30,						Six Months Ended June 30,
	2022			2021			2022			2021
Basic net loss per share:
Numerator:
Net loss (in thousands)	$	(126,260	)	$	(107,245	)	$	(248,315	)	$	(203,009	)
Denominator:
Weighted average common stock outstanding —basic		59,266,322			58,582,569			59,148,246			58,478,970
Dilutive effect of shares of common stock equivalents resulting from common stock options and restricted stock units		—			—			—			—
Weighted average common stock outstanding —diluted		59,266,322			58,582,569			59,148,246			58,478,970
Net loss per share—basic and diluted	$	(2.13	)	$	(1.83	)	$	(4.20	)	$	(3.47	)

The following common stock equivalents outstanding as of June 30, 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 June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Stock options		6,999,816		7,048,814		6,999,816		7,048,814
Restricted stock units		243,159		333,220		243,159		333,220
Employee stock purchase plan		33,614		28,687		33,614		28,687
		7,276,589		7,410,721		7,276,589		7,410,721

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.