Quarterly report pursuant to Section 13 or 15(d)

Net Loss Per Share

Net Loss Per Share

3 Months Ended

Mar. 31, 2020

3. Net Loss Per Share

The table below presents common shares underlying stock options, warrants and convertible loans that are excluded from the calculation of the weighted average number of common shares outstanding used for the calculation of diluted net loss per common share. These are excluded from the calculation due to their anti-dilutive effect:


	Three months ended
	March 31,
(in thousands)	2020	2019
Weighted-average anti-dilutive common shares resulting from options	991	476
Weighted-average anti-dilutive common shares resulting from warrants	8,342	1,115
Weighted-average anti-dilutive common shares resulting from convertible loans	3,243	469
Total	12,576	2,060