Quarterly report pursuant to Section 13 or 15(d)

Stock-based Compensation (Tables)

v3.7.0.1
Stock-based Compensation (Tables)
3 Months Ended
Mar. 31, 2017
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, 2017 and 2016, was estimated based on the following weighted average assumptions:

 

 

 

Three Months Ended March 31,

 

 

 

2017

 

 

2016

 

Dividend yield

 

 

0

%

 

 

0

%

Expected volatility

 

 

100

%

 

 

106

%

Risk-free interest rate

 

 

1.95

%

 

 

1.27

%

Expected term

 

5.6 years

 

 

5.6 years

 

 

Stock Option Activity

Stock option activity for the three months ended March 31, 2017, was as follows:

 

 

Options

 

 

Weighted

Average Exercise Price Per Share

 

 

Weighted

Average

Remaining

Contractual

Life

(in years)

 

 

Aggregate

Intrinsic Value

(in thousands)

 

Outstanding at January 1, 2017

 

 

568,292

 

 

$

77.70

 

 

 

 

 

 

 

 

 

Granted

 

 

15,222

 

 

 

4.67

 

 

 

 

 

 

 

 

 

Forfeited, expired or cancelled

 

 

(23,813

)

 

 

140.84

 

 

 

 

 

 

 

 

 

Outstanding at March 31, 2017

 

 

559,701

 

 

$

73.03

 

 

 

6.92

 

 

$

363

 

Exercisable at March 31, 2017

 

 

317,119

 

 

$

119.38

 

 

 

4.99

 

 

$

3

 

 

RSU Activity

RSU activity for the three months ended March 31, 2017, is summarized below:

 

 

 

 

 

 

Weighted-

 

 

 

Number of

 

 

Average Grant-

 

 

 

Shares

 

 

Date Fair Value

 

Unvested at January 1, 2017

 

 

91,228

 

 

$

39.82

 

Granted

 

 

11,799

 

 

$

4.67

 

Vested

 

 

(53,300

)

 

$

37.88

 

Forfeited

 

 

(15,040

)

 

$

42.49

 

Unvested at March 31, 2017

 

 

34,687

 

 

$

29.69

 

 

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 comprehensive loss (in thousands):

 

 

 

Three Months Ended March 31,

 

 

 

2017

 

 

2016

 

Research and development

 

$

441

 

 

$

1,137

 

General and administrative

 

 

559

 

 

 

1,169

 

Total stock-based compensation expense

 

$

1,000

 

 

$

2,306