XOMA Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Stock-based Compensation (Tables)

Stock-based Compensation (Tables)

9 Months Ended

Sep. 30, 2019

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

The fair value of the stock options granted during the three and nine months ended September 30, 2019 and 2018, was estimated based on the following weighted average assumptions:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2019			2018			2019			2018
Dividend yield		0	%		0	%		0	%		0	%
Expected volatility		101	%		101	%		103	%		101	%
Risk-free interest rate		1.71	%		2.76	%		2.49	%		2.72	%
Expected term	5.47 years			5.60 years			5.60 years			5.60 years

Stock Option Activity

Stock option activity for the nine months ended September 30, 2019, was as follows:

	Number of shares			Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value (in thousands)
Outstanding at beginning of year		1,624,746		$	23.09
Granted		400,814			14.49
Exercised		(50,513	)		4.86
Forfeited, expired or cancelled		(165,432	)		33.83
Outstanding at end of period		1,809,615		$	20.71		7.05	$	16,127
Exercisable at end of period		1,347,408		$	23.16		6.47	$	12,921

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 income (loss) (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
Research and development	$	66	$	97	$	174	$	296
General and administrative		1,428		750		4,059		2,737
Total stock-based compensation expense	$	1,494	$	847	$	4,233	$	3,033