Basic and Diluted Net Loss Per Share (Tables)

6 Months Ended

Jun. 30, 2019

The following table summarizes the distributable losses for the three and six months ended June 30, 2019 and 2018 (in thousands):

	Three Months Ended June 30,						Six Months Ended June 30,
	2019			2018			2019			2018
Net loss	$	(37,323	)	$	(62,046	)	$	(10,136	)	$	(91,673	)
Distributions to Ionis		—			(7,792	)		(13,492	)		(7,792	)
Distributable losses	$	(37,323	)	$	(69,838	)	$	(23,628	)	$	(99,465	)

The following table summarizes the reconciliation of weighted-average shares outstanding used in the calculation of basic loss per share for the three and six months ended June 30, 2019 and 2018:

	Three Months Ended June 30,				Six Months Ended June 30,
Determination of shares:	2019		2018		2019		2018
Weighted-average common shares outstanding owned by Ionis		70,221,338		60,832,494		69,406,181		53,182,685
Weighted-average common shares outstanding owned by others		22,573,900		21,492,157		22,351,368		21,332,650
Total weighted-average shares outstanding		92,795,238		82,324,651		91,757,549		74,515,335

The following table summarizes the calculation of basic loss per share for the three and six months ended June 30, 2019 and 2018 (in thousands, except per share and share amounts):

	Three Months Ended June 30,						Six Months Ended June 30,
	2019			2018			2019			2018
Losses allocated to Ionis	$	(28,244	)	$	(51,606	)	$	(17,872	)	$	(70,990	)
Plus: Distribution to Ionis		—			7,792			13,492			7,792
Losses available to Ionis	$	(28,244	)	$	(43,814	)	$	(4,380	)	$	(63,198	)
Weighted-average common shares outstanding owned by Ionis		70,221,338			60,832,494			69,406,181			53,182,685
Basic loss per common share owned by Ionis	$	(0.40	)	$	(0.72	)	$	(0.06	)	$	(1.19	)

Losses allocated to common shares owned by others	$	(9,079	)	$	(18,232	)	$	(5,756	)	$	(28,475	)
Weighted-average common shares outstanding owned by others		22,573,900			21,492,157			22,351,368			21,332,650
Basic loss per common share owned by others	$	(0.40	)	$	(0.85	)	$	(0.26	)	$	(1.33	)