XOMA Royalty 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)

3 Months Ended

Mar. 31, 2020

The fair value of the stock options granted during the three months ended March 31, 2020 and 2019, was estimated based on the following weighted average assumptions:


	Three Months Ended March 31,
	2020		2019
Dividend yield	0	%	0	%
Expected volatility	100	%	103	%
Risk-free interest rate	0.90	%	2.55	%
Expected term	5.57 years		5.60 years

Stock Option Activity

Stock option activity for the three months ended March 31, 2020, was as follows:


		Weighted		Weighted	Aggregate
		Average		Average	Intrinsic
		Exercise		Contractual	Value
	Number of	Price		Term	(in
	shares	Per Share		(in years)	thousands)
Outstanding at beginning of year	1,839,623	$	20.42	6.88	$	26,829
Granted	138,800		21.28
Exercised	—		—
Forfeited, expired or cancelled	(17,011)		147.00
Outstanding at end of period	1,961,412	$	19.39	6.92	$	17,154
Exercisable at end of period	1,539,655	$	19.74	6.31	$	15,682

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 March 31,
	2020		2019
Research and development	$	—	$	49
General and administrative		1,788		1,679
Total stock-based compensation expense	$	1,788	$	1,728