MEI Pharma Just Filed Its Quarterly Report: Note 5. Net Loss Per...

Note 5. Net Loss Per Share

Basic and diluted net loss per share are computed using the weighted-average number of shares of common stock outstanding during the period, less any shares subject to repu rchase or forfeiture. There were no shares of common stock subject to repurchase or forfeiture for the three and six months ended December 31, 2021 and 2020. Diluted net loss per share is computed based on the sum of the weighted average number of common shares and potentially dilutive common shares outstanding during the period.

The following table presents the calculation of net loss used to calculate basic loss and diluted loss per share (in thousands):

 







































































































 

 

Three Months Ended
December 31,

 

 

Six Months Ended
December 31,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Net loss – basic

 

$

(5,766

)

 

$

(11,454

)

 

$

(17,646

)

 

$

(13,546

)

Change in fair value of warrant liability

 

 

(5,458

)

 

 

(7,083

)

 

 

(8,046

)

 

 

(20,307

)

Net loss – diluted

 

$

(11,224

)

 

$

(18,537

)

 

$

(25,692

)

 

$

(33,853

)

 

Share used in calculating net loss per share was determined as follows (in thousands):

 







































































































 

 

Three Months Ended
December 31,

 

 

Six Months Ended
December 31,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Weighted average shares used in calculating basic net loss per share

 

 

126,725

 

 

 

112,524

 

 

 

115,982

 

 

 

112,480

 

Effect of potentially dilutive common shares from equity awards and liability-classified warrants

 

 

1,435

 

 

 

1,937

 

 

 

2,675

 

 

 

2,229

 

Weighted average shares used in calculating diluted net loss per share

 

 

128,160

 

 

 

114,461

 

 

 

118,657

 

 

 

114,709

 

 

Our potentially dilutive shares, which include outstanding stock options, restricted stock units, and warrants, are considered to be common stock equivalents and are only included in the calculation of diluted net loss per share when their effect is dilutive.

The following table presents weighted-average potentially dilutive shares that have been excluded from the calculation of net loss per share because of their anti-dilutive effect (in thousands):

 







































































































 

 

Three Months Ended
December 31,

 

 

Six Months Ended
December 31,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Stock options

 

 

20,460

 

 

 

15,128

 

 

 

20,671

 

 

 

15,347

 

Restricted stock units

 

 

229

 

 

 

430

 

 

 

244

 

 

 

430

 

Total anti-dilutive shares

 

 

20,689

 

 

 

15,558

 

 

 

20,915

 

 

 

15,777

 

The above information was disclosed in a filing to the SEC. To see the filing, click here.

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