9. Net Income (Loss) per Share Attributable to Common Stockholders

The following is a reconciliation of the numerator and denominator of the basic and diluted net income (loss) per share (“EPS”) computations:

	Three Months Ended September 30,					Nine Months Ended September 30,
	2018		2017			2018			2017
Numerator:
Net and comprehensive income (loss)	$	11,537,478	$	(4,649,567	)	$	(1,878,046	)	$	(15,165,577	)
Adjustment of redeemable convertible preferred stock to redemption value		—		—			—			(943,297	)
Net income (loss) attributable to common stockholders	$	11,537,478	$	(4,649,567	)	$	(1,878,046	)	$	(16,108,874	)
Denominator:
Denominator for basic EPS - weighted-average common shares		40,527,722		26,926,673			31,687,434			19,889,984
Dilutive effect of options to purchase common shares		426,860		-			-			-
Dilutive effect of unvested restricted stock		7,038		-			-			-
Denominator for diluted EPS - adjusted weighted-average common shares		40,961,620		26,926,673			31,687,434			19,889,984

Basic and diluted EPS	$	0.28	$	(0.17	)	$	(0.06	)	$	(0.81	)

The diluted EPS calculation for the three months ended September 30, 2018 excludes 2.4 million options to purchase common stock that was outstanding but unvested and the effect of weighted average common stock share equivalents of 0.1 million for options to purchase common stock and 0.3 million for warrants to purchase common stock as their effect is anti-dilutive. Holders of non-vested stock-based compensation awards do not have voting rights.

The following weighted average common stock equivalents were excluded from the calculation of basic and diluted net loss per share attributable to common stockholders for the nine-month periods presented:

	Nine Months Ended September 30,
	2018		2017
Options to purchase common stock		3,348,632		898,962
Unvested restricted stock		7,038		129,835
Warrants to purchase common stock		317,562		317,562