MEI Pharma Just Filed Its Quarterly Report: Note 5. Net (Loss) I...

Note 5. Net (Loss) Income Per Share

Basic and diluted net (loss) income per share are computed using the weighted-average number of shares of common stock outstanding during the period, less any sh ares subject to repurchase or forfeiture. There were no shares of common stock subject to repurchase or forfeiture for the three months ended September 30, 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) income used to calculate basic (loss) income and diluted loss per share (in thousands):

 




































































 

 

Three Months Ended
September 30,

 

 

 

2021

 

 

2020

 

 

 

(As Restated)

 

Net (loss) income – basic

 

$

(17,510

)

 

$

712

 

Change in fair value of warrant liability

 

 

(2,587

)

 

 

(13,224

)

Net loss – diluted

 

$

(20,097

)

 

$

(12,512

)

 

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

 






























































 

 

Three Months Ended
September 30,

 

 

 

2021

 

 

2020

 

Weighted average shares used in calculating basic net (loss) income per share

 

 

112,677

 

 

 

112,435

 

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

 

 

1,240

 

 

 

2,522

 

Weighted average shares used in calculating diluted net loss per share

 

 

113,917

 

 

 

114,957

 

 

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) income per share because of their anti-dilutive effect (in thousands):

 






























































 

 

Three Months Ended
September 30,

 

 

 

2021

 

 

2020

 

Stock options

 

 

20,882

 

 

 

15,128

 

Restricted stock units

 

 

259

 

 

 

429

 

Total anti-dilutive shares

 

 

21,141

 

 

 

15,557

 

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

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