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Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2015
Accounting Policies [Abstract]  
Calculation of net loss and number of shares used to compute basic and diluted earnings per share

The calculation of net loss and the number of shares used to compute basic and diluted earnings per share for the years ended December 31, 2015, 2014, and 2013 are as follows:

 

(in thousands, except share data)

 

2015

 

 

2014

 

 

2013

 

Net loss – basic

 

$

(14,704

)

 

$

(17,381

)

 

$

(30,324

)

Adjust for gain on warrant derivative liability

 

 

 

 

 

 

 

 

(1,835

)

Net loss - diluted

 

 

(14,704

)

 

 

(17,381

)

 

 

(32,159

)

Net loss per share – basic

 

 

(0.91

)

 

 

(1.84

)

 

 

(4.81

)

Weighted average shares outstanding – basic

 

 

16,161,687

 

 

 

9,452,050

 

 

 

6,300,614

 

Potentially dilutive warrant exercises

 

 

 

 

 

 

 

 

268,397

 

Weighted average shares outstanding – diluted

 

 

16,161,687

 

 

 

9,452,050

 

 

 

6,569,011

 

Net loss per share – diluted

 

 

(0.91

)

 

 

(1.84

)

 

 

(5.10

)

 

Shares excluded from the computation of diluted EPS

Shares excluded from the computation of diluted EPS:

 

 

 

2015

 

 

2014

 

 

2013

 

Stock options

 

 

756,051

 

 

 

281,735

 

 

 

252,158

 

Unvested restricted shares

 

 

576,000

 

 

 

29,799

 

 

 

20,347

 

Warrants

 

 

18,059,000

 

 

 

850,138

 

 

 

589,500

 

Total

 

 

19,391,051

 

 

 

1,161,672

 

 

 

862,005