Quarterly report pursuant to Section 13 or 15(d)

Net Income (Loss) Per Share of Common Stock

v3.19.2
Net Income (Loss) Per Share of Common Stock
6 Months Ended
Jun. 30, 2019
Earnings Per Share [Abstract]  
Net Income (Loss) Per Share of Common Stock
6. Net Income (Loss) Per Share of Common Stock
Basic net income (loss) per share is computed by dividing net income (loss) by the weighted-average number of shares of common stock outstanding. For the three months ended June 30, 2019 and
each of 
the three and six months ended June 30, 2018, the Company incurred a net loss and therefore diluted net loss per share is the same as basic net loss per share as the Company excluded certain potentially dilutive securities from the computation of diluted weighted average shares outstanding as they would have been anti-dilutive. For the six months ended June 30, 2019, the Company had net income and included 48,370 shares of common stock in the computation of diluted weighted average shares outstanding from the exercise of stock options utilizing treasury method accounting.
 
The following table sets forth the computation of basic and diluted net income (loss) per share for common stockholders:
 
   
Three Months Ended June 30,
   
Six Months Ended June 30,
 
   
2019
   
2018
   
2019
   
2018
 
Net income (loss)
  $ (8,666,906 )   $ (20,135,892   $ 2,920,109     $ (39,242,373
Shares used in computing basic net income (loss) per share
    79,409,556       73,658,529       79,409,556       73,657,537  
   
 
 
   
 
 
   
 
 
   
 
 
 
Basic net income (loss) per share
  $ (0.11   $ (0.27   $ 0.04     $ (0.53
   
 
 
   
 
 
   
 
 
   
 
 
 
Shares used in computing diluted net income (loss) per share
    79,409,556       73,658,529       79,457,926       73,657,537  
   
 
 
   
 
 
   
 
 
   
 
 
 
Diluted net income (loss) per share
  $ (0.11   $ (0.27   $ 0.04     $ (0.53
   
 
 
   
 
 
   
 
 
   
 
 
 
The following table sets forth the potentially dilutive securities outstanding for the three and six months ended June 30, 2019 and 2018 that were excluded from the computation of diluted weighted average shares outstanding:
 
   
Three Months Ended June 30,
   
Six Months Ended June 30,
 
   
2019
   
2018
   
2019
   
2018
 
Options to purchase common stock
    12,364,994       7,266,054       12,316,624       7,266,054  
Warrants to purchase common stock
    30,572,324       31,678,614       30,572,324       31,678,614  
   
 
 
   
 
 
   
 
 
   
 
 
 
Total
    42,917,318       38,944,668       42,917,948       38,944,668