Net Loss per Common Share

9 Months Ended

Sep. 30, 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, without consideration of potentially dilutive securities. 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 generally 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 and nine months ended September 30, 2014, basic and diluted net loss per common share are equal.

The following potentially dilutive securities were excluded from the computation of earnings per share as of September 30, 2014 and 2013 because their effects would be anti-dilutive:

	September 30,
	2014		2013
Stock options		227,718		294,446
Unvested restricted shares		64,515		21,243
Warrants		850,138		339,994
Total		1,142,371		655,683

- Definition

The entire disclosure for earnings per share.

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