14. Net Income (Loss) Per Common Share

The following tables summarize the components of the basic and diluted net income (loss) per common share computations (in thousands except par value and per share data):

	Three Months Ended					Nine Months Ended
	September 30,					September 30,
	2017			2016		2017			2016
Basic EPS:
Net income (loss) (numerator)	$	(32,886	)	$	126,520	$	(84,549	)	$	71,690
Weighted average common shares (denominator)		104,703			95,627		100,136			90,838
Net income (loss) per share	$	(0.31	)	$	1.32	$	(0.84	)	$	0.79

Diluted EPS:
Net income (loss) (numerator)	$	(32,886	)	$	126,520	$	(84,549	)	$	71,690
Weighted average common shares		104,703			95,627		100,136			90,838

Effect of dilutive securities - common shares issuable		—			921		—			36
Adjusted weighted average common shares (denominator)		104,703			96,549		100,136			90,873

Net income (loss) per share	$	(0.31	)	$	1.31	$	(0.84	)	$	0.79

As further discussed in Note 11 – Commitments and Contingencies, on September 29, 2017, the Company entered into exchange agreements with four holders of the 9.7 million outstanding warrants pursuant to which the Company agreed to issue to such holders and aggregate of 1,292,510 shares of the Company’s common stock on October 3, 2017. The Company has included the 1,292,510 shares of common stock in basic net income (loss) per common share because as of the balance sheet date, all conditions necessary to issue those shares had been satisfied.

Common shares issuable represents incremental shares of common stock which consist of stock options, restricted stock units, warrants, and shares that could be issued upon conversion of the senior convertible notes.

The computation of basic and diluted net loss per share for the three and nine months ended September 30, 2017 and 2016 excludes the common stock equivalents of the following potentially dilutive securities because their inclusion would be anti-dilutive:

	Three months ended September 30,				Nine months ended September 30,
	2017		2016		2017		2016
Restricted stock units		1,147,688		172,953		1,147,688		172,953
Senior convertible notes		814,561		--		814,561		814,561
Warrants		31,856		9,740,597		31,856		9,740,597
Employee stock purchase plan		142,888		14,079		142,888		14,079
Stock options		7,183,837		5,689,486		7,183,837		5,689,486
		9,320,830		15,617,115		9,320,830		16,431,676

For the three months ended September 30, 2016, the senior convertible notes were dilutive and therefore not included in the excluded potentially dilutive securities table above.