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Net Income (Loss) Per Share Attributable to Common Shareholders (Tables)
9 Months Ended
Sep. 30, 2020
Earnings Per Share [Abstract]  
Schedule of Computation of Basic and Diluted Net Income (Loss) per Share

The following table sets forth the computation of basic and diluted net income (loss) per share for the periods ended (in thousands, except per share amounts):

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Net income (loss)

 

$

(92,439

)

 

$

138,423

 

 

$

(241,826

)

 

$

36,316

 

Basic weighted-average common shares outstanding

 

 

70,143,481

 

 

 

54,829,057

 

 

 

64,159,224

 

 

 

53,380,123

 

Effect of potentially dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding options

 

 

 

 

 

2,612,354

 

 

 

 

 

 

2,326,824

 

Unvested restricted common shares

 

 

 

 

 

157,490

 

 

 

 

 

 

114,473

 

Employee stock purchase plan

 

 

 

 

 

 

 

 

 

 

 

 

Diluted weighted-average common shares outstanding

 

 

70,143,481

 

 

 

57,598,901

 

 

 

64,159,224

 

 

 

55,821,420

 

Basic net income (loss) per common share

 

 

(1.32

)

 

 

2.52

 

 

 

(3.77

)

 

 

0.68

 

Diluted net income (loss) per common share

 

 

(1.32

)

 

 

2.40

 

 

 

(3.77

)

 

 

0.65

 

 

Schedule of Antidilutive Securities not Include in Computation of Net Income (Loss) per Share

The following common stock equivalents were excluded from the calculation of diluted net loss per share for the periods indicated because including them would have had an anti-dilutive effect (in thousands):

 

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Outstanding options

 

 

7,932,906

 

 

 

3,791,475

 

 

 

7,932,906

 

 

 

3,911,071

 

Unvested restricted common shares

 

 

897,510

 

 

 

13,750

 

 

 

897,510

 

 

 

34,250

 

ESPP

 

 

11,808

 

 

 

 

 

 

11,808

 

 

 

 

Total

 

 

8,842,224

 

 

 

3,805,225

 

 

 

8,842,224

 

 

 

3,945,321