Quarterly report pursuant to Section 13 or 15(d)

Net (Loss) Income Per Share of Common Stock

Net (Loss) Income Per Share of Common Stock

6 Months Ended

Jun. 30, 2020

Net (Loss) Income Per Share of Common Stock

6. Net (Loss) Income Per Share of Common Stock

Basic net (loss) income per share is computed by dividing net (loss) income by the weighted-average number of shares of common stock outstanding. For each of the three and six months ended June 30, 2020 and the three months ended June 30, 2019, 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 (loss) income per share for common stockholders:


	Three Months Ended June 30,						Six Months Ended June 30,
	2020			2019			2020			2019
Net (loss) income	$	(17,617,236	)	$	(8,666,906	)	$	(25,195,722	)	$	2,920,109
Shares used in computing basic net (loss) income per share		19,991,894			7,940,931			17,661,968			7,940,931

Basic net (loss) income per share	$	(0.88	)	$	(1.09	)	$	(1.43	)	$	0.37

Shares used in computing diluted net (loss) income per share		19,991,894			7,940,931			17,661,968			7,945,768

Diluted net (loss) income per share	$	(0.88	)	$	(1.09	)	$	(1.43	)	$	0.37

The following table sets forth the potentially dilutive securities outstanding for the three and six months ended June 30, 2020 and 2019 that were excluded from the computation of diluted weighted average shares outstanding:


	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Options to purchase common stock		1,917,649		1,236,499		1,917,649		1,231,662
Warrants to purchase common stock		12,360,430		3,057,232		12,360,430		3,057,232

Total		14,278,079		4,293,731		14,278,079		4,288,894