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Net Income (Loss) Per Share | 6 Months Ended
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Jun. 30, 2017
Earnings Per Share [Abstract] |
Net Income (Loss) Per Share | NET INCOME (LOSS) PER SHARE The following table sets forth a reconciliation of basic and diluted net income (loss) per share (in thousands, except per share amounts):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2017 |  | 2016 |  | 2017 |  | 2016
Net income (loss) | $ | 17,656 |  |  | $ | (34,838 | ) |  | $ | 34,356 |  |  | $ | (94,061 | )
Net income allocated to participating securities | (60 | ) |  | — |  |  | (117 | ) |  | — |
Net income allocable to common stock for basic net income (loss) per share | 17,596 |  |  | (34,838 | ) |  | 34,239 |  |  | (94,061 | )
Adjustment to net income allocated to participating securities | 4 |  |  | — |  |  | 7 |  |  | — |
Net income allocable to common stock for diluted net income (loss) per share | $ | 17,600 |  |  | $ | (34,838 | ) |  | $ | 34,246 |  |  | $ | (94,061 | )
Weighted-average shares of common stock outstanding | 293,188 |  |  | 229,310 |  |  | 292,029 |  |  | 228,860 |
Dilutive securities: |  |  |  |  |  |  |
Outstanding stock options, unvested RSUs and ESPP contributions | 18,031 |  |  | — |  |  | 18,730 |  |  | — |
Weighted-average shares of common stock outstanding and dilutive securities | 311,219 |  |  | 229,310 |  |  | 310,759 |  |  | 228,860 |
Net income (loss) per share, basic | $ | 0.06 |  |  | $ | (0.15 | ) |  | $ | 0.12 |  |  | $ | (0.41 | )
Net income (loss) per share, diluted | $ | 0.06 |  |  | $ | (0.15 | ) |  | $ | 0.11 |  |  | $ | (0.41 | )
The 2014 Warrants are participating securities and the warrant holders do not have a contractual obligation to share in our losses. See “Note 8 - Common Stock and Warrants” to our Consolidated Financial Statements included in our Annual Report on Form 10-K for the year ended December 31, 2016 filed with the SEC on February 27, 2017 for a description of the 2014 Warrants. The following table sets forth potentially dilutive shares of common stock that are not included in the computation of diluted net income (loss) per share because to do so would be anti-dilutive (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2017 |  | 2016 |  | 2017 |  | 2016
Outstanding stock options, unvested RSUs and ESPP contributions | 1,747 |  |  | 30,637 |  |  | 1,633 |  |  | 30,637 |
2019 Notes | — |  |  | 54,118 |  |  | — |  |  | 54,118 |
Deerfield Notes | — |  |  | 33,890 |  |  | — |  |  | 33,890 |
Warrants | — |  |  | 1,000 |  |  | — |  |  | 1,000 |
Total potentially dilutive shares | 1,747 |  |  | 119,645 |  |  | 1,633 |  |  | 119,645 |
The Deerfield Notes were repaid in June 2017. The 2019 Notes were converted and redeemed between August and November 2016.

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