Adaptimmune Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Earnings (loss) per share

Earnings (loss) per share

6 Months Ended

Jun. 30, 2016

Note 4 — Earnings (loss) per share

Basic earnings (loss) per share is determined by dividing net income or loss available to ordinary shareholders by the weighted average number of ordinary shares outstanding during the period. Diluted earnings (loss) per share is determined by dividing net income or loss applicable to ordinary shareholders by the weighted average number of ordinary shares outstanding during the period, adjusted for the dilutive effect of all potential ordinary shares that were outstanding during the period. Potentially dilutive shares are excluded when the effect would be to increase diluted earnings per share or reduce diluted loss per share.

The following table reconciles the numerator and denominator in the basic and diluted earnings (loss) per share computation (in thousands):

	Three months ended June 30,						Six months ended June 30,
	2016			2015			2016			2015
Numerator for basic and diluted EPS
Net loss	$	(22,095	)	$	(14,568	)	$	(37,671	)	$	(16,513	)
Deemed dividend on convertible preferred shares	—			(2,229		)	—			(8,663		)

Net loss available to ordinary shareholders	$	(22,095	)	$	(16,797	)	$	(37,671	)	$	(25,176	)


Denominator for basic and diluted EPS
Weighted average number of shares used to calculate basic and diluted loss per share	424,711,900			316,559,989			424,711,900			248,222,243

The effects of the following potentially dilutive equity instruments have been excluded from the diluted loss per share calculation because they would have an antidilutive effect on the loss per share for the period:

	Three months ended June 30,		Six months ended June 30,
	2016	2015	2016	2015

Share options	46,127,274	31,473,477	46,127,274	31,473,477