Loss Per Share

9 Months Ended

Sep. 30, 2023

12. Loss Per Share

The Company calculates basic loss per share by dividing net loss for each respective period by the weighted average number of common shares outstanding for each respective period. The Company computes diluted loss per share after giving consideration to the dilutive effect of stock options and unvested restricted stock units that are outstanding during the period, except where such securities would be anti-dilutive.

Basic and diluted loss per share was calculated as follows:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2023			2022			2023			2022
	(In thousands)
Net loss	$	(122,224	)	$	(113,229	)	$	(349,031	)	$	(360,779	)
Weighted average shares outstanding, basic and diluted		88,645			76,047			88,204			75,543
Net loss per share, basic and diluted	$	(1.38	)	$	(1.49	)	$	(3.96	)	$	(4.78	)

The following common stock equivalents were excluded from the calculation of diluted loss per share because their inclusion would have been anti-dilutive:


	Three and Nine Months Ended September 30,
	2023		2022
	(In thousands)
Unvested restricted stock units		3,925		1,928
Stock options		5,591		5,548
		9,516		7,476