Net (Loss) Income Per Share

9 Months Ended

Sep. 30, 2023

Basic net (loss) income per common share is computed by dividing the net (loss) income attributable to Vir by the weighted-average number of common shares outstanding during the period, without consideration of common stock equivalents. Diluted net (loss) income per common share is computed by dividing the net (loss) income attributable to Vir by the sum of the weighted-average number of common shares outstanding during the period plus any potential dilutive effects of common stock equivalents outstanding during the period calculated in accordance with the treasury stock method. For periods that the Company was in a net loss position, basic net loss per share is the same as diluted net loss per share as the inclusion of all potential common securities outstanding would have been anti-dilutive. The following is a calculation of the basic and diluted net (loss) income per share (in thousands, except share and per share data):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Net (loss) income attributable to Vir	$	(163,413)	$	175,312	$	(499,088)	$	617,440

Weighted-average shares outstanding, basic	134,289,620		132,729,530		133,969,878		132,422,028
Weighted-average effect of dilutive securities:
Options to purchase common stock	—		2,144,302		—		2,227,493
Restricted shares subject to future vesting	—		75,759		—		55,080
Shares to purchase under Employee Stock Purchase Plan	—		13,726		—		7,176
Weighted-average shares outstanding, diluted	134,289,620		134,963,317		133,969,878		134,711,777

Net (loss) income attributable to Vir per share, basic	$	(1.22)	$	1.32	$	(3.73)	$	4.66
Net (loss) income attributable to Vir per share, diluted	$	(1.22)	$	1.30	$	(3.73)	$	4.58

Potentially dilutive securities that were not included in the diluted per share calculations because they would be anti-dilutive were as follows:


	Three Months Ended September 30,		Nine Months Ended September 30,
	2023	2022	2023	2022
Options issued and outstanding	10,601,054	8,381,275	10,990,201	8,717,954
Restricted shares subject to future vesting	5,130,300	2,194,050	4,112,315	2,720,818
Total	15,731,354	10,575,325	15,102,516	11,438,772