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Stockholders' Equity (Tables)
12 Months Ended
Dec. 31, 2020
Stockholders' Equity Note [Abstract]  
Schedule of Fair Value of Warrants Based on the option pricing valuation model, the Company determined the fair value of the warrants as of the Closing Date to be the following:
(in thousands)Warrants Liability
Series A Warrants$3,862 
Series B-1 Warrants (1)
328 
Series B-2 Warrants (2)
376 
Series C Warrants (3)
6,232 
Total$10,798 
1) Series B-1 Warrants expired on January 29, 2020.
2) Series B-2 Warrants expired on August 3, 2020.
3) Series C Warrants were exercised on October 10, 2019.
Schedule of Valuation Assumptions for Stock Options The fair value of options at date of grant was estimated using the Black-Scholes option pricing model utilizing the following assumptions:
Years Ended December 31,
20202019
Dividend yield0.0%0.0%
Expected volatility57.0%44.5%-52.9%
Risk-free interest rate1.0%1.3%-2.7%
Expected life of options (in years)6.005.21-10.00
Summary of Stock Options Activity
A summary of the options granted, exercised, forfeited and expired during the years ended December 31, 2020, 2019 and 2018 is presented below:
Number of
Shares
Weighted-Average
Exercise Price
Options outstanding as of December 31, 20173,444,252 $30.65 
Options exercised (1)
(347,752)15.45 
Options expired(2,050,587)39.74 
Options outstanding as of December 31, 20181,045,913 $17.89 
Options granted925,000 5.64 
Options exercised(68,259)17.44 
Options forfeited(363,687)15.15 
Options outstanding as of December 31, 20191,538,967 $11.27 
Options granted50,000 3.67 
Options exercised(75,000)1.89 
Options forfeited(60,000)5.38 
Options expired(456,775)15.92 
Options outstanding as of December 31, 2020997,192 $9.82 
Options exercisable as of December 31, 2020568,025 $16.10 
(1) Includes 125,523 options withheld to pay the exercise price for certain exercises during the year ended December 31, 2018.
Options Outstanding Range of Exercise Prices
The following table summarizes information about options outstanding, and exercisable, as of December 31, 2020:
 Options OutstandingOptions Exercisable
Range of Exercise PricesOptions OutstandingWeighted
Average
Exercise
Price
Weighted
Average
Remaining
Contractual
Life (Years)
Options
Exercisable
Weighted
Average
Exercise
Price
Weighted
Average
Remaining
Contractual
Life (Years)
$3.21 - $5.38
450,000 $3.74 8.92133,333 $6.00 8.88
$10.35 - $19.31
494,360 13.79 3.25381,860 18.46 1.73
$20.11 - $23.22
46,775 22.33 0.9446,775 22.33 0.94
$40.80
6,057 40.80 3.626,057 40.80 3.62
997,192 $9.82 5.71568,025 $16.10 3.37
Unvested Stock Awards
A summary of the stock awards granted, vested and forfeited during the years ended December 31, 2020, 2019 and 2018 is presented as follows. RSU awards with undelivered shares are classified as unvested until the date of delivery of the shares.
Unvested Stock AwardsRestricted
Stock Units
Weighted
Average
Grant-Date Fair Value
Unvested as of December 31, 2017779,912 $37.22 
Granted2,872,408 22.53 
Vested(2,077,253)27.55 
Forfeited(108,932)29.50 
Unvested as of December 31, 20181,466,135 $22.62 
Granted2,578,866 7.56 
Vested(854,998)23.96 
Forfeited(529,767)18.47 
Unvested as of December 31, 20192,660,236 $8.42 
Granted634,570 3.66 
Vested(1,363,152)7.22 
Forfeited(106,417)20.02 
Unvested as of December 31, 20201,825,237 $6.99