7.	Loss Per Share

The Company calculates basic (loss) earnings per share by dividing (loss) income allocable to common stockholders by the weighted average number of common shares outstanding. The Company computes diluted (loss) earnings per share after giving consideration to the dilutive effect of preferred stock, common stock and restricted common stock that are outstanding during the period, except where such non-participating securities would be anti-dilutive.

Basic and diluted loss per share attributable to common stockholders was calculated as follows:


	Three Months Ended March 31,
	2017			2016
	(In thousands except per share data)
Net loss	$	(12,631	)	$	(6,689	)
Weighted average shares outstanding, basic and diluted		34,723			676

Net loss per share attributable to common stockholders, basic and diluted	$	(0.36	)	$	(9.89	)

In May 2016, the Company issued an additional 6,900,000 shares of common stock in connection with its initial public offering (“IPO”) and 23,481,956 shares of common stock in connection with the automatic conversion of its convertible preferred stock upon the closing of the IPO. In addition, the Company issued a total of 3,055,554 shares of common stock in two separate, concurrent private placements upon the closing of the IPO. The issuance of these shares resulted in a significant increase in the Company’s weighted average shares outstanding and will impact the year-over-year comparability of the Company’s (loss) earnings per share calculations into 2017.

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


	Three Months Ended March 31,
	2017		2016
	(In thousands)
Unvested restricted stock		1,175		1,774
Stock options		4,373		2,618

		5,548		4,392