Net Loss per Common Share

3 Months Ended

Mar. 31, 2014

Net Loss per Common Share [Abstract]

(9)	Net Loss per Common Share

Basic net loss per share is determined by dividing net loss by the weighted average shares of common stock outstanding during the period. Diluted net loss per share is determined by dividing net loss by diluted weighted average shares outstanding. Diluted weighted average shares reflects the dilutive effect, if any, of potentially dilutive common shares, such as stock options and warrants calculated using the treasury stock method. In periods with reported net operating losses, all common stock options and warrants are deemed anti-dilutive such that basic net loss per share and diluted net loss per share are equal. However, in certain periods in which the exercise price of the warrants was less than the last reported sales price of Delcath’s common stock on the final trading day of the period and there is a gain recorded pursuant to the change in fair value of the warrant derivative liability, the impact of gains related to the mark-to-market adjustment of the warrants outstanding at the end of the period is reversed and the treasury stock method is used to determine diluted earnings per share. For the three month periods ended March 31, 2014 and 2013, there were no securities that were dilutive.

For the three month periods ended March 31, 2014 and 2013, the following potentially dilutive securities were excluded from the computation of earnings per share because their effects would be anti-dilutive:

	March 31,
	2014		2013
Stock options		237,829		349,635
Unvested restricted shares		18,663		25,676
Warrants		891,368		340,254
Total		1,147,860		715,565

- Definition

The entire disclosure for earnings per share.

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