Annual report pursuant to Section 13 and 15(d)

Stock-based Compensation (Tables)

v3.20.1
Stock-based Compensation (Tables)
12 Months Ended
Dec. 31, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Assumptions Used To Estimate Fair Value of Options The assumptions used to estimate fair value and the resulting grant date fair values are as follows:

 

 

 

Employees

 

 

Non-employee Directors

 

 

 

Years Ended December 31,

 

 

Years Ended December 31,

 

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Weighted average expected volatility

 

 

66.47

%

 

 

52.31

%

 

 

65.36

%

 

 

58.65

%

Weighted average risk-free interest rate

 

 

2.47

%

 

 

2.64

%

 

 

2.11

%

 

 

2.44

%

Weighted average expected term (in years)

 

 

6.03

 

 

 

6.02

 

 

 

5.54

 

 

 

5.28

 

Schedule of Share-based Compensation, Stock Options, Activity

The activity for the 2009 Plan, 2014 Plan and 2015 Plan for the years ended December 31, 2019 is summarized as follows:

 

 

Number

of

Shares

 

 

Weighted-

Average

Exercise

Price

 

 

Weighted-

Average

Remaining

Contractual

Life (in years)

 

 

Aggregate

Intrinsic

Value ($000)

 

Outstanding — January 1, 2019

 

 

4,052,913

 

 

$

4.37

 

 

 

7.23

 

 

$

 

Granted

 

 

1,701,500

 

 

 

1.24

 

 

 

 

 

 

 

 

 

Exercised

 

 

(22,500

)

 

 

0.54

 

 

 

 

 

 

 

 

 

Forfeited/expired

 

 

(470,053

)

 

 

7.96

 

 

 

 

 

 

 

 

 

Outstanding — December 31, 2019

 

 

5,261,860

 

 

$

3.06

 

 

 

7.62

 

 

$

60

 

Exercisable — December 31, 2019

 

 

2,988,580

 

 

$

4.17

 

 

 

6.83

 

 

$

33

 

Vested or expected to vest —December 31, 2019

 

 

5,261,860

 

 

$

3.06

 

 

 

7.62

 

 

$

60

 

Schedule of Restricted Stock Units ("RSU") Activity

Restricted stock unit ("RSU") activity under the 2014 Plan and 2015 Plan for the years ended December 31, 2019, is summarized as follows:

 

 

Number of

Shares

 

 

Weighted

Average

Grant Date

Fair Value

Per Share

 

Non-vested at December 31, 2018

 

 

111,891

 

 

$

2.06

 

Granted

 

 

932,500

 

 

 

1.37

 

Vested

 

 

(29,673

)

 

 

2.14

 

Forfeited

 

 

(48,324

)

 

 

1.46

 

Non-vested at December 31, 2019

 

 

966,394

 

 

$

1.42

 

 

Stock-Based Compensation Expense Related to Stock Options

Stock-based compensation expense related to stock options is included in the following line items in the accompanying statements of operations (in thousands):

 

 

 

Years Ended December 31,

 

 

 

2019

 

 

2018

 

Research and development

 

$

604

 

 

$

519

 

Selling, general and administrative

 

 

1,224

 

 

 

1,297

 

Total stock-based compensation expense

 

$

1,828

 

 

$

1,816