Basic and Diluted Net Loss Per Share (Tables)

6 Months Ended

Jun. 30, 2020

The following table summarizes the distributable losses for the three and six months ended June 30, 2020 and 2019 (in thousands):

	Three Months Ended June 30,						Six Months Ended June 30,
	2020			2019			2020			2019
Net loss	$	(49,577	)	$	(37,323	)	$	(92,427	)	$	(10,136	)
Distributions to Ionis		—			—			—			(13,492	)
Distributable losses	$	(49,577	)	$	(37,323	)	$	(92,427	)	$	(23,628	)

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, 2020 and 2019:

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Determination of shares:
Weighted-average common shares outstanding owned by Ionis		77,094,682		70,221,338		77,094,682		69,406,181
Weighted-average common shares outstanding owned by others		24,381,592		22,573,900		24,195,990		22,351,368
Total weighted-average common shares outstanding		101,476,274		92,795,238		101,290,672		91,757,549

The following table summarizes the calculation of basic loss per share for the three and six months ended June 30, 2020 and 2019 (in thousands, except share and per share amounts):

	Three Months Ended June 30,						Six Months Ended June 30,
	2020			2019			2020			2019
Losses allocated to Ionis	$	(37,665	)	$	(28,244	)	$	(70,348	)	$	(17,872	)
Plus: Distribution to Ionis		—			—			—			13,492
Losses available to Ionis	$	(37,665	)	$	(28,244	)	$	(70,348	)	$	(4,380	)
Weighted-average common shares outstanding owned by Ionis		77,094,682			70,221,338			77,094,682			69,406,181
Basic loss per common share owned by Ionis	$	(0.49	)	$	(0.40	)	$	(0.91	)	$	(0.06	)

Losses allocated to common shares owned by others	$	(11,912	)	$	(9,079	)	$	(22,079	)	$	(5,756	)
Weighted-average common shares outstanding owned by others		24,381,592			22,573,900			24,195,990			22,351,368
Basic loss per common share owned by others	$	(0.49	)	$	(0.40	)	$	(0.91	)	$	(0.26	)