Net Earnings (Loss) Per Common Share

6 Months Ended

Jun. 30, 2020

Loss Per Common Share

The following table sets forth the computation of basic and diluted net loss per common share for the periods indicated.


(In thousands except per share data)	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2020		2019		2020		2019
Basic
Weighted average common shares outstanding	34,437		33,749		34,111		33,527



Net loss	$	(16,619)	$	(12,717)	$	(15,887)	$	(26,603)



Net loss per common share	$	(0.48)	$	(0.38)	$	(0.47)	$	(0.79)

Diluted
Weighted average common shares outstanding	34,437		33,749		34,111		33,527

Share options and awards	42		15		87		12
Weighted average common shares assuming dilution	34,479		33,764		34,198		33,539



Net loss	$	(16,619)	$	(12,717)	$	(15,887)	$	(26,603)



Net loss per common share *	$	(0.48)	$	(0.38)	$	(0.47)	$	(0.79)

________

* Net loss per common share assuming dilution calculated utilizing weighted average shares outstanding-basic for the periods in which there was a net loss.

At June 30, 2020, 325,299 shares associated with shares options were excluded from the average common shares assuming dilution for the three months ended June 30, 2020 as they were anti-dilutive. At June 30, 2020, the majority of the anti-dilutive shares were granted at an exercise price of $25.24, which was higher than the average fair market value price of $6.69 and $7.22 for the three and six months ended June 30, 2020.

At June 30, 2019, 326,799 shares associated with share options were excluded from the average common shares assuming dilution for the three months ended June 30, 2019 as they were anti-dilutive. At June 30, 2019, the majority of the anti-dilutive shares were granted at an exercise price of $25.24, which was higher than the average fair market value price of $6.52 and $6.85 for the three and six months ended June 30, 2019.

For both the three and six months ended June 30, 2020 and June 30, 2019, respectively, no shares were included in the common shares assuming dilution related to the company's issued warrants as the average market price of the company shares for these periods did not exceed the strike price of the warrants.