Loss Per Common Share

3 Months Ended

Mar. 31, 2017

Basic loss per common share is determined by dividing net loss by the weighted average number of common shares outstanding during the period. Diluted loss per share is determined by dividing loss attributable to common stockholders by the weighted average number of common shares outstanding, assuming all potentially dilutive shares were issued.

We apply the treasury stock method to determine the dilutive weighted average common shares represented by the unvested restricted stock units and employee stock purchase plan shares. Through August 26, 2016, the date of the conversion of all of Mosing Holdings' Preferred Stock and Mosing Holdings' transfer of interest in FICV to us, the diluted loss per share calculation assumed the conversion of 100% of our outstanding Preferred Stock on an as if converted basis. Accordingly, the numerator was also adjusted to include the earnings allocated to the noncontrolling interest after taking into account the tax effect of such exchange.

The following table summarizes the basic and diluted loss per share calculations (in thousands, except per share amounts):



	Three Months Ended
	March 31,
	2017			2016
Numerator - Basic
Net loss	$	(26,663	)	$	(2,408	)
Less: Net loss attributable to noncontrolling interest	—			1,636
Net loss available to common shareholders	$	(26,663	)	$	(772	)
Numerator - Diluted
Diluted net loss available to common shareholders	$	(26,663	)	$	(772	)
Denominator
Basic weighted average common shares	222,564			155,244
Diluted weighted average common shares⁽¹⁾	222,564			155,244
Loss per common share:
Basic	$	(0.12	)	$	—
Diluted	$	(0.12	)	$	—

Approximate number of shares of potentially convertible preferred stock to common stock up until the time of conversion on August 26, 2016, unvested restricted stock units and stock to be issued pursuant to the employee stock purchase plan have been excluded from the computation of diluted loss per share as the effect would be anti-dilutive when the results from operations are at a net loss.