Quarterly report pursuant to Section 13 or 15(d)

Net Loss Per Common Share

Net Loss Per Common Share

9 Months Ended

Dec. 31, 2016

16. Net Loss Per Common Share

Basic loss per share of common stock is computed using the weighted average number of common shares outstanding for the period. Diluted loss per share is computed without consideration to potentially dilutive instruments because the Company incurred losses in the three months ended December 31, 2016 which would make these instruments anti-dilutive. As of each of December 31, 2016 and 2015, the number of anti-dilutive stock options and restricted stock units excluded from diluted net loss per common share computations was approximately 0.7 million. As of the three and nine months ended December 31, 2016, the number of warrants excluded from diluted net loss per common share computations was approximately 6.8 million and 13.1 million, respectively. As of December 31, 2015, the Company did not have any warrants outstanding.


	Three Months Ended				Nine Months Ended
	December 31,				December 31,
	2016		2015		2016		2015
Net Loss
Net Loss - Basic	$	(8,909)	$	(6,015)	$	(19,291)	$	(19,872)
Change in fair value of warrant liability		(1,777)		—		(1,777)		—
Net Loss - Diluted	$	(10,686)	$	(6,015)	$	(21,068)	$	(19,872)

Basic Shares
Basic weighted average shares outstanding		34,761		17,824		30,823		16,975
Diluted Shares
Basic weighted average shares outstanding		34,761		17,824		30,823		16,975
Effect of dilutive warrants		3,186		—				—
Diluted weighted average shares outstanding		37,947		17,824		30,823		16,975

Net income (loss) per share:
Basic	$	(0.26)	$	(0.34)	$	(0.63)	$	(1.17)
Diluted	$	(0.28)	$	(0.34)	$	(0.63)	$	(1.17)