Exhibit 11
COMPUTATION OF LOSS PER SHARE
(in thousands except per share amounts)
Three Months Ended Six Months Ended
June 30, June 30,
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1997 1996 1997 1996
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Net loss attributable to common
stockholders $(2,155) $(2,658) $(4,424) $(5,504)
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Weighted average shares used to
compute net loss per share
Weighted average number of
shares outstanding:
Convertible Preferred Stock - 7,091 - 6,398
Common Stock 10,477 574 10,471 572
Number of common equivalents
as a result of warrants granted
using the treasury stock method
in accordance with Staff
Accounting Bulletin 83 - - - 93
Number of common equivalents
as a result of stock options granted
using the treasury stock method
in accordance with Staff
Accounting Bulletin 83 - - - 237
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Total 10,477 7,665 10,471 7,300
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Net loss per share attributable
to common stockholders $ (0.21) $ (0.35) $ (0.42) $(0.75)
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The calculations for all periods shown include the shares and warrants of
convertible preferred stock as if they had converted to common stock on their
respective original dates of issuance, because such shares automatically
converted to common stock upon the closing of the Initial Public Offering of the
Company's common stock.