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Net Income (Loss) per Common Share (Tables)
6 Months Ended
Jun. 30, 2022
Net Income (Loss) per Common Share  
Computation of basic and diluted net income (loss) per share

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Three Months Ended

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Six Months Ended

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June 30, 

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June 30, 

($ in thousands except per share data)

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2022

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2021

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2022

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2021

Net income (loss) per share — Basic:

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Net income (loss)

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$

(5,307)

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$

(7,563)

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$

(9,485)

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$

108,175

Less: Undistributed earnings to preferred stockholders

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—

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—

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(2,725)

Net income (loss) applicable to common stockholders - basic

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$

(5,307)

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$

(7,563)

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$

(9,485)

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$

105,450

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Numerator for basic net income (loss) applicable to common stockholders

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$

(5,307)

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$

(7,563)

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$

(9,485)

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$

105,450

Denominator for basic net income (loss) applicable to common stockholders

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52,972

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49,909

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52,933

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45,575

Net income (loss) applicable to common stockholders - basic

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$

(0.10)

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$

(0.15)

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$

(0.18)

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$

2.31

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Net income (loss) per share — Diluted:

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Net income (loss)

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$

(5,307)

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$

(7,563)

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$

(9,485)

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$

108,175

Less: Warrant revaluation gain applicable to dilutive liability-classified warrants

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—

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—

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—

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(6,983)

Less: Future tranche right revaluation gain applicable to dilutive liability-classified future tranche rights

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—

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—

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—

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(118,803)

Numerator for diluted net income (loss) applicable to common stockholders

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$

(5,307)

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$

(7,563)

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$

(9,485)

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$

(17,611)

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Denominator for basic net income (loss) applicable to common stockholders

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52,972

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49,909

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52,933

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45,575

Plus: Incremental shares underlying “in the money” liability-classified warrants outstanding

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—

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—

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—

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496

Plus: Incremental shares underlying “in the money” liability-classified future tranche rights outstanding

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—

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—

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—

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8,866

Denominator for diluted net income (loss) applicable to common stockholders

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52,972

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49,909

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52,933

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54,937

Net income (loss) applicable to common stockholders - diluted

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$

(0.10)

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$

(0.15)

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$

(0.18)

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$

(0.32)

Schedule of potentially dilutive securities excluded from diluted net income (loss) per common share

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Three Months Ended

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Six Months Ended

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June 30, 

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June 30, 

(in thousands)

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2022

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2021

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2022

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2021

Stock options

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5,275

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4,888

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5,275

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4,888

Restricted stock units

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548

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594

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548

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594

Common stock warrants

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8,732

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8,732

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8,732

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8,732

Total

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14,555

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14,214

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14,555

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14,214