Quarterly report pursuant to Section 13 or 15(d)

Stock-based Compensation (Tables)

v3.8.0.1
Stock-based Compensation (Tables)
 3 Months Ended
Mar. 31, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Weighted Average Assumptions

The fair value of the stock options granted during the three months ended March 31, 2018 and 2017, was estimated based on the following weighted average assumptions:

 

 

 

Three Months Ended March 31,

 

 

 

2018

 

 

2017

 

Dividend yield

 

 

0

%

 

 

0

%

Expected volatility

 

 

101

%

 

 

100

%

Risk-free interest rate

 

 

2.72

%

 

 

1.95

%

Expected term

 

5.6 years

 

 

5.6 years

 

 
Stock Option Activity

Stock option activity for the three months ended March 31, 2018, was as follows:

 

 

Number of

shares

 

 

Weighted

Average

Exercise

Price

Per Share

 

 

Weighted

Average

Contractual Term

(in years)

 

 

Aggregate Intrinsic Value

(in thousands)

 

Outstanding at beginning of year

 

 

1,622,065

 

 

$

24.54

 

 

 

 

 

 

 

 

 

Granted

 

 

133,000

 

 

 

26.90

 

 

 

 

 

 

 

 

 

Exercised

 

 

(400

)

 

 

33.80

 

 

 

 

 

 

 

 

 

Forfeited, expired or cancelled

 

 

(101,469

)

 

 

54.24

 

 

 

 

 

 

 

 

 

Outstanding at end of period

 

 

1,653,196

 

 

$

22.91

 

 

 

8.32

 

 

$

16,625

 

Exercisable at end of period

 

 

915,442

 

 

$

29.09

 

 

 

7.55

 

 

$

9,959

 

 
RSU Activity

RSU activity for the three months ended March 31, 2018, is summarized below:

 

 

 

 

 

 

 

Weighted-

 

 

 

Number of

 

 

Average Grant-

 

 

 

Shares

 

 

Date Fair Value

 

Unvested balance at January 1, 2018

 

 

18,480

 

 

$

18.00

 

Granted

 

 

—

 

 

 

—

 

Vested

 

 

(13,360

)

 

 

13.08

 

Forfeited

 

 

—

 

 

 

—

 

Unvested balance at March 31, 2018

 

 

5,120

 

 

$

30.86

 

 
Stock-based Compensation Expense

The following table shows total stock-based compensation expense for stock options, RSUs and ESPP in the condensed consolidated statements of operations and comprehensive loss (in thousands):

 

 

 

Three Months Ended March 31,

 

 

 

2018

 

 

2017

 

Research and development

 

$

104

 

 

$

441

 

General and administrative

 

 

1,312

 

 

 

559

 

Total stock-based compensation expense

 

$

1,416

 

 

$

1,000