Net Loss Per Share

6 Months Ended

Jun. 30, 2015

13. Net Loss Per Share

The Company computes basic and diluted net loss per share using a methodology that gives effect to the impact of outstanding participating securities (the “two-class method”). As the three and six months ended June 30, 2015 and 2014 resulted in net losses attributable to common shareholders, there is no income allocation required under the two-class method or dilution attributed to weighted average shares outstanding in the calculation of diluted net loss per share.

The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders:


	Three Months Ended June 30,						Six Months Ended June 30,
	2015			2014			2015			2014
Numerator:
Net loss	$	(14,897	)	$	(6,941	)	$	(16,699	)	$	(10,454	)
Accretion of redeemable preferred stock		—			(13	)		—			(26	)

Net loss attributable to common stockholders	$	(14,897	)	$	(6,954	)	$	(16,699	)	$	(10,480	)

Denominator:
Weighted average common shares outstanding—basic and diluted		5,608,429			3,145,521			4,401,087			3,145,283
Net loss per share attributable to common stockholders—basic and diluted	$	(2.66	)	$	(2.21	)	$	(3.79	)	$	(3.33	)

The following potentially dilutive securities outstanding prior to the use of the treasury stock method have been excluded from the computation of diluted weighted-average shares outstanding, as they would be anti-dilutive.


	As of June 30,
	2015		2014
Convertible preferred stock (as converted to common stock)		—		5,269,907
Options to purchase common stock		1,983,470		832,184
Warrants to purchase common stock		4,473,440		—
Convertible notes and accrued interest (as converted to common stock)		—		327,505
Settlement of term loan		85,251		—

In addition to the potentially dilutive securities noted above, as of June 30, 2014 the Company had outstanding warrants to purchase redeemable convertible preferred stock, for which the series of stock and number of shares were variable pending the outcome of a future financing event (see Note10). Because the necessary conditions for determining the number of underlying shares had not been satisfied during the six months ended June 30, 2014, the Company has excluded these warrants from the table above. The warrants were cancelled on June 15, 2015, the Effective Time of the Merger.