Net Loss Per Share

12 Months Ended

Dec. 31, 2016

Note 11. Net Loss Per Share

Basic net loss per share is calculated by dividing net loss by the weighted-average number of common shares outstanding during the period and excludes any potential dilutive effects of common stock equivalents. Diluted net loss per share is computed giving effect to all potential dilutive common shares, including common stock issuable upon exercise of stock options, convertible preferred stock, and unvested restricted common stock. As the Company had net losses for the year ended December 31, 2016, 2015 and 2014, all potential common shares were determined to be anti-dilutive and were therefore excluded from the calculation of diluted net loss per share.

The following table sets forth the computation of basic and diluted net loss per share of common stock during the years ended December 31, 2016, 2015 and 2014:

	For the Year Ended December 31,
	2016			2015			2014
	(in thousands, except share and per share data)
Net loss	$	(59,668	)	$	(26,458	)	$	(10,819	)
Weighted-average number of shares used in computing net loss per share		10,673,559			1,148,827			501,707
Net loss per share, basic and diluted	$	(5.59	)	$	(23.03	)	$	(21.56	)

The following outstanding shares of common stock equivalents were excluded from the computation of diluted net loss per share of common stock for the periods presented because including them would have been anti-dilutive:

	For the Year Ended December 31,
	2016		2015		2014

Convertible preferred stock (on an as-if- converted basis)		—		13,820,301		9,447,378
Stock options to purchase common stock		2,534,622		2,303,862		784,790
Restricted stock subject to future vesting		—		95,595		217,909
		2,534,622		16,219,758		10,450,077