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Net Loss Per Share
 3 Months Ended
Mar. 31, 2015
Earnings Per Share [Abstract]  
Net Loss Per share
Net Loss Per Share
Basic net loss per share is computed by dividing the net loss for the year by the weighted average number of common shares outstanding during the year. Diluted loss per share is calculated in accordance with the treasury stock method and reflects the potential dilution that would occur if securities or other contracts to issue common stock were exercised or converted to common stock. The calculation of diluted loss per share requires that, to the extent the average market price of the underlying shares for the reporting period exceeds the exercise price of the warrants and the presumed exercise of such securities are dilutive to loss per share for the period, an adjustment to net loss used in the calculation is required to remove the change in fair value of the warrants from the numerator for the period. Likewise, an adjustment to the denominator is required to reflect the related dilutive shares, if any, under the treasury stock method.
The following tables reconcile the components of the numerator and denominator included in the calculations of diluted loss per share:

Three Months Ended March 31,

2015

2014
Numerator



Net loss attributable to Inovio Pharmaceuticals, Inc.
$
(10,581,779
)

$
(10,821,460
)
Reflect adjustment for decrease in fair value of warrant liability
(289,773
)

—

Numerator for use in diluted loss per share
$
(10,871,552
)

$
(10,821,460
)




Denominator



Weighted average number of common shares outstanding
60,741,082


55,159,002

Effect of dilutive potential common shares from warrants
172,341


—

Denominator for use in diluted loss per share
60,913,423


55,159,002

 
 
 
 
Net loss per share, diluted
$
(0.18
)
 
$
(0.20
)

The following table summarizes potential common shares that were excluded from the diluted net loss per share calculation because of their anti-dilutive effect:
 
As of March 31,
Common Stock Equivalents
2015
 
2014
Options to purchase common stock
5,930,767

 
4,737,095

Warrants to purchase common stock
727,969

 
1,613,793

Restricted stock units
130,000

 
—

Convertible preferred stock
8,456

 
9,558

Total
6,797,192

 
6,360,446