Net Loss Per Share (Tables)
 12 Months Ended
Dec. 31, 2015
Earnings Per Share [Abstract]  
Summary of Basic and Diluted Net Loss Per Share of Common Stock

The following table summarizes the computation of basic and diluted net loss per share of our common stock for 2015, 2014 and 2013:

 

    Year Ended December 31,  
                2015                             2014                             2013              
    (in thousands, except share and per share data)  

Numerator:

      

Net loss

     $(49,857)        $(32,627)        $(18,873)   

Accretion of preferred stock to redemption value

     (35,061)        (52,336)        (33,553)   

Beneficial conversion charge relating to IPO participation payment

     (14,161)        —        —   
 

 

 

    

 

 

    

 

 

  

Net loss attributable to common stockholders, basic and diluted

     $(99,079)        $(84,963)        $(52,426)   
 

 

 

    

 

 

    

 

 

  

Denominator:

      

Weighted-average common shares outstanding, basic and diluted

     24,740,480        12,770,916        12,549,266   
 

 

 

    

 

 

    

 

 

  

Net loss per share attributable to common stockholders, basic and diluted

     $(4.00)        $(6.65)        $(4.18)   
 

 

 

    

 

 

    

 

 

  

 
Anti-Dilutive Securities Excluded from Computation Diluted Weighted Average Shares Outstanding

For the years ended December 31, 2015, 2014 and 2013, we incurred net losses and, therefore, the effect of our outstanding stock options, common stock warrants, restricted stock awards, shares to be issued under our ESPP and convertible preferred stock was not included in the calculation of diluted loss per share as the effect would be anti-dilutive. The following table contains share totals, prior to the use of the treasury stock method or if-converted method, with a potentially dilutive impact:

    Year Ended December 31,  
                2015                             2014                             2013              

Options to purchase common stock

     4,246,525        3,561,304        3,202,335   

Restricted stock

     1,149,257        4,185        68,781   

Warrants to purchase common stock

     100,000        200,000        200,000   

Shares to be issued under ESPP

     114,271        —        —   

Redeemable convertible preferred stock

     —        16,382,615        13,696,099   
 

 

 

    

 

 

    

 

 

  

Total

     5,610,053        20,148,104        17,167,215