Quarterly report pursuant to Section 13 or 15(d)

Stock-based Compensation (Tables)

v3.10.0.1
Stock-based Compensation (Tables)
 6 Months Ended
Jun. 30, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Weighted Average Assumptions

The fair value of the stock options granted during the three and six months ended June 30, 2018 and 2017, was estimated based on the following weighted average assumptions:

 

Three Months Ended

June 30,

 

 

Six Months Ended June 30,

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

Dividend yield

 

0

%

 

 

0

%

 

 

0

%

 

 

0

%

Expected volatility

 

102

%

 

 

100

%

 

 

101

%

 

 

100

%

Risk-free interest rate

 

2.98

%

 

 

1.78

%

 

 

2.71

%

 

 

1.78

%

Expected term

5.55 years

 

 

5.55 years

 

 

5.60 years

 

 

5.55 years

 

 
Stock Option Activity

Stock option activity for the six months ended June 30, 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

 

233,208

 

 

 

28.98

 

 

 

 

 

 

 

 

 

Exercised

 

(44,400

)

 

 

5.49

 

 

 

 

 

 

 

 

 

Forfeited, expired or cancelled

 

(202,941

)

 

 

44.07

 

 

 

 

 

 

 

 

 

Outstanding at end of period

 

1,607,932

 

 

$

23.25

 

 

 

8.2

 

 

$

16,650

 

Exercisable at end of period

 

922,333

 

 

$

28.96

 

 

 

7.5

 

 

$

10,411

 

 
RSU Activity

RSU activity for the six months ended June 30, 2018, is summarized below:

 

 

 

 

 

 

Weighted-

 

 

Restricted Stock Units:

Number of

 

 

Average Grant-

 

 

 

Shares

 

 

Date Fair Value

 

 

Unvested balance at January 1, 2018

 

18,480

 

 

$

18.00

 

 

Granted

 

—

 

 

 

—

 

 

Vested

 

(17,614

)

 

 

18.54

 

 

Forfeited

 

—

 

 

 

—

 

 

Unvested balance at June 30, 2018

 

866

 

 

$

7.02

 

 

 
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) income (in thousands):

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

Research and development

$

95

 

 

$

231

 

 

$

199

 

 

$

672

 

General and administrative

 

675

 

 

 

1,623

 

 

 

1,987

 

 

 

2,183

 

Total stock-based compensation expense

$

770

 

 

$

1,854

 

 

$

2,186

 

 

$

2,855