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Stockholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2016
Schedule of weighted-average assumptions estimated at the date of grant using the Black-Scholes option pricing model

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

2016

    

    

2015

    

 

2014

 

Expected stock price volatility

 
74.69

-
87.67

%  

 
73.64

-
81.21

%  

 
77.66

-
86.08

%  

Expected term of options

 
5.2

-
6.1

years

 
5.2

-
6.1

years

 
5.5

-
6.06

years

Risk-free interest rate

 
1.07

-
1.86

%  

 
1.44

-
1.92

%  

 
1.75

-
1.98

%  

Expected annual dividend yield

 

 

 
0

%  

 

 

 
0

%  

 

 

 
0

%  

 

Schedule of unrecognized compensation expense expected to be recognized in future years

That expense is expected to be recognized over the next four years as follows, in thousands:

 

 

 

 

 

 

2017

    

$
2,473

2018

 

 
1,480

2019

 

 
242

2020

 

 
12

 

 

$
4,207

 

Stock option  
Schedule of total compensation cost recognized in the statement of operations

 

Total compensation cost recognized for all stock option awards in the statements of operations is as follows (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

 

 

2016

 

2015

 

2014

 

Research and development

    

$
980

    

$
685

    

$
137

    

General and administrative

 

 
1,975

 

 
1,423

 

 
561

 

Total

 

$
2,955

 

$
2,108

 

$
698

 

 

Summary of activity for all options

A summary of activity for the years ended December 31, 2016, 2015 and 2014 is presented below (in thousands, except share and per share amounts):

 

 

 

 

 

 

 

 

 

 

 

 

    

 

    

Weighted-

    

 

 

 

 

 

 

 

Average

 

Aggregate

 

 

 

 

 

Exercise Price

 

Intrinsic

 

 

 

Shares

 

Per Share

 

Value

 

Outstanding—December 31, 2013

 
1,093,208

 

$
1.04

 

 

 

 

Granted

 
700,000

 

 
8.99

 

 

 

 

Exercised

 
(122,634)

 

 
1.04

 

 

 

 

Outstanding—December 31, 2014

 
1,670,574

 

 
4.37

 

 

 

 

Granted

 
585,800

 

 
12.56

 

 

 

 

Exercised

 
(327,098)

 

 
1.14

 

 

 

 

Forfeited

 
(44,950)

 

 
6.13

 

 

 

 

Expired

 
(85,100)

 

 
1.04

 

 

 

 

Outstanding—December 31, 2015

 
1,799,226

 

 
7.74

 

 

 

 

Granted

 
603,975

 

 
2.42

 

 

 

 

Exercised

 
(118,365)

 

 
1.04

 

 

 

 

Forfeited

 
(45,792)

 

 
12.08

 

 

 

 

Outstanding—December 31, 2016

 
2,239,044

 

$
6.57

 

$

 —

 

 

 

 

 

 

 

 

 

 

 

Exercisable—December 31, 2016

 
1,182,966

 

$
6.96

 

$

 —

 

Exercisable and expected to vest—December 31, 2016

 
2,239,044

 

$
6.57

 

$

 —

 

 

Restricted stock  
Schedule of total compensation cost recognized in the statement of operations

Total compensation cost recognized for all restricted stock awards in the statements of operations for the year ended December 31, 2016 is as follows (in thousands):

 

 

 

 

 

 

Research and development

    

$
48

    

General and administrative

 

 
74

 

Total

 

$
122

 

 

Summary of activity for all restricted stock

A summary of activity for the year ended December 31, 2016 is presented below (in thousands, except share and per share amounts):

 

 

 

 

 

 

 

 

    

 

    

Weighted-average

 

 

 

 

Grant Date

 

 

Shares

 

Fair Value per Share

Outstanding—December 31, 2015

 

 —

 

$

 —

Granted

 
196,275

 

 
1.51

Vested

 

 —

 

 

 —

Forfeited

 
(375)

 

 
1.50

Outstanding—December 31, 2016

 
195,900

 

$
1.51

 

 

 

 

 

 

Expected to vest—December 31, 2016

 
195,900

 

$
1.51