Net Loss per Share

3 Months Ended

Mar. 31, 2017

Net Loss per Share

Net Loss per Share

13.   Net Loss per Share

Net Loss per Share Attributable to Common Shareholders of Biohaven Pharmaceutical Holding Company Ltd.

Basic and diluted net loss per share attributable to common shareholders of Biohaven Pharmaceutical Holding Company Ltd. was calculated as follows:

	Three Months Ended March 31,
	2017			2016
Numerator:
Net loss	$	(18,753	)	$	(2,986	)
Net loss attributable to non-controlling interests	—			35
Accretion of beneficial conversion feature on Series A preferred shares	(4,000		)	—
Net loss attributable to common shareholders of Biohaven Pharmaceutical Holding Company Ltd.	$	(22,753	)	$	(2,951	)
Denominator:
Weighted average common shares outstanding—basic and diluted	13,088,861			11,776,429
Net loss per share attributable to common shareholders of Biohaven Pharmaceutical Holding Company Ltd.—basic and diluted	$	(1.74	)	$	(0.25	)

The Company’s potential dilutive securities, which include stock options and warrants to purchase common shares, have been excluded from the computation of diluted net loss per share as the effect would be to reduce the net loss per share. Therefore, the weighted average number of common shares outstanding used to calculate both basic and diluted net loss per share attributable to common shareholders of Biohaven Pharmaceutical Holding Company Ltd. is the same. The Company excluded the following potential common shares, presented based on amounts outstanding at each period end, from the computation of diluted net loss per share attributable to common shareholders for the periods indicated because including them would have had an anti-dilutive effect:

	Three Months Ended March 31,
	2017	2016
Options to purchase common shares	4,345,344	3,247,500
Warrants to purchase common shares	815,000	275,000
	5,160,344	3,522,500

The Company has agreed under its agreements with AstraZeneca and BMS to issue common shares upon the achievement of specified milestones or upon the occurrence of specified events (see Note 12). Because the necessary conditions for issuance of the shares had not been met as of March 31, 2017, the Company excluded these shares from the table above and from the calculation of diluted net loss per share for the three months ended March 31, 2017.