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Summary of Significant Accounting Policies (Tables)
6 Months Ended
Jun. 30, 2015
Computation of Basic and Diluted Net Loss per Share

The following table sets forth the reconciliation of the numerator and denominator used in the computation of basic and diluted net loss per share for the three and six months ended June 30, 2015 and 2014 (in thousands, except per share amounts):

 

     Three Months Ended
June 30,
     Six Months Ended
June 30,
 
     2015      2014      2015      2014  

Numerator for Basic and Diluted:

           

Net loss used for basic calculation

   $ (15,972    $ (7,589    $ (25,432    $ (7,814

Effect of revaluation of warrant liability

     —           (4,007      (3,589      (13,041
  

 

 

    

 

 

    

 

 

    

 

 

 

Adjusted net loss used for diluted calculation

   $ (15,972    $ (11,596    $ (29,021    $ (20,855
  

 

 

    

 

 

    

 

 

    

 

 

 

Denominator:

           

Basic weighted average number of shares outstanding

     95,728         72,899         94,576         72,495   

Effect of dilutive potential shares

     —           1,618         1,106         2,432   
  

 

 

    

 

 

    

 

 

    

 

 

 

Diluted weighted average number of shares outstanding

     95,728         74,517         95,682         74,927   
  

 

 

    

 

 

    

 

 

    

 

 

 

Net loss per share:

           

Basic

   $ (0.17    $ (0.10    $ (0.27    $ (0.11

Diluted

   $ (0.17    $ (0.16    $ (0.30    $ (0.28
Anti-Dilutive Effect of Common Shares

The table below presents shares underlying stock options, employee stock purchase plan rights, and warrants that are excluded from the calculation of the weighted average number of shares outstanding used for the calculation of diluted net loss per share. These are excluded from the calculation due to their anti-dilutive effect for the three and six months ended June 30, 2015 and 2014 (shares in thousands):

 

     Three Months Ended
June 30,
     Six Months Ended
June 30,
 
     2015      2014      2015      2014  

Weighted average number of anti-dilutive potential shares:

           

Stock options

     6,910         12,160         5,793         11,587   

Warrants

     2,985         —           —           —     
  

 

 

    

 

 

    

 

 

    

 

 

 

Total

     9,895         12,160         5,793         11,587