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Net Income (Loss) Per Share | 9 Months Ended
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Sep. 30, 2016
Earnings Per Share [Abstract] |
Net Income (Loss) Per Share | Net Income (Loss) Per Share Basic net income (loss) per share is computed by dividing the net income (loss) for the year by the weighted average number of common shares outstanding during the year. Diluted income (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 income (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 income (loss) per share:
| Three Months Ended September 30,
| 2016 |  | 2015
Numerator |  |  |
Net income (loss) attributable to Inovio Pharmaceuticals, Inc. | $ | (20,759,338 | ) |  | $ | 5,594,468 |
Reflect adjustment for decrease in fair value of warrant liability | (2,841 | ) |  | (616,477 | )
Numerator for use in diluted income (loss) per share | $ | (20,762,179 | ) |  | $ | 4,977,991 |
Denominator |  |  |
Weighted average number of common shares outstanding | 73,602,834 |  |  | 72,029,644 |
Effect of dilutive potential common shares | 186,174 |  |  | 1,931,593 |
Denominator for use in diluted income (loss) per share | 73,789,008 |  |  | 73,961,237 |
Net income (loss) per share, diluted | $ | (0.28 | ) |  | $ | 0.07 |
| Nine Months Ended September 30,
| 2016 |  | 2015
Numerator |  |  |
Net loss attributable to Inovio Pharmaceuticals, Inc. | $ | (47,506,869 | ) |  | $ | (11,235,561 | )
Reflect adjustment for decrease in fair value of warrant liability | — |  |  | (928,978 | )
Numerator for use in diluted loss per share | $ | (47,506,869 | ) |  | $ | (12,164,539 | )
Denominator |  |  |
Weighted average number of common shares outstanding | 72,932,199 |  |  | 66,846,481 |
Effect of dilutive potential common shares | — |  |  | 172,480 |
Denominator for use in diluted loss per share | 72,932,199 |  |  | 67,018,961 |
Net loss per share, diluted | $ | (0.65 | ) |  | $ | (0.18 | )
The following table summarizes potential common shares that were excluded from the diluted net loss per share calculation because of their anti-dilutive effect for the three months ended September 30, 2016 and 2015:
Common Stock Equivalents | 2016 |  | 2015
Options to purchase common stock | 6,747,961 |  |  | 2,812,185 |
Restricted stock units | 771,335 |  |  | — |
Convertible preferred stock | 8,456 |  |  | 8,456 |
Total | 7,527,752 |  |  | 2,820,641 |
The following table summarizes potential common shares that were excluded from the diluted net loss per share calculation because of their anti-dilutive effect for the nine months ended September 30, 2016 and 2015:
Common Stock Equivalents | 2016 |  | 2015
Options to purchase common stock | 6,747,961 |  |  | 5,875,211 |
Warrants to purchase common stock | 284,091 |  |  | 580,904 |
Restricted stock units | 771,335 |  |  | 230,000 |
Convertible preferred stock | 8,456 |  |  | 8,456 |
Total | 7,811,843 |  |  | 6,694,571 |

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