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Stockholders' Equity (Tables)
12 Months Ended
Dec. 31, 2019
Stockholders' Equity Note [Abstract]  
Schedule of shares of common stock reserved for issuance

The Company has reserved the following shares of common stock for issuance as of December 31, 2019:

 

Warrants to purchase common stock   331,193 
Options:     
   Outstanding under the 2012 Equity Incentive Plan   15,881,406 
   Outstanding under the 2001 Equity Incentive Plan   315 
   Available for future grants under the 2012 Equity Incentive Plan   3,050,799 
Shares reserved under the 2019 LPC Purchase Agreement   14,500,000 
Total common stock reserved for future issuance   33,763,713 
Summary of stock option activity

The following table summarizes stock option activity for the years ended December 31, 2019 and 2018:

 

  Number of
Shares
   Weighted
Average
Exercise
Price (per
share)(1)
   Weighted-
Average
Remaining
Contractual
Term (in
years)
   Aggregate
Intrinsic
Value
($000's)
(2)
 
Outstanding at January 1, 2018   2,448,383   $4.15           
Granted   13,575,038    0.66           
Cancelled (forfeited)   (572,935)   3.20           
Cancelled (expired)   (41,129)   37.82           
Outstanding at December 31, 2018   15,409,357    0.95           
Granted   1,470,957    0.78           
Exercised   (488,625)   0.67           
Cancelled (forfeited)   (509,923)   0.62           
Cancelled (expired)   (45)   9.68           
Outstanding at December 31, 2019   15,881,721   $0.95    8.2   $49 
                     
Options vested and expected to vest   15,827,723   $0.95    8.2   $49 
Exercisable   13,661,670   $0.99    8.0   $22 

 

 

                                                         

(1)The weighted average price per share is determined using exercise price per share for stock options.

 

(2)The aggregate intrinsic value is calculated as the difference between the exercise price of the option and the fair value of the Company’s common stock for in-the-money options at December 31, 2019.
Schedule of stock options outstanding and exercisable by exercise price

The stock options outstanding and exercisable by exercise price at December 31, 2019 are as follows:

 

   Stock Options Outstanding   Stock Options Exercisable 
Range of Exercise Prices   Number of
Shares
    Weighted-
Average
Remaining
Contractual
Life
In Years
    Weighted-
Average
Exercise
Price
Per Share
    Number of
Shares
    Weighted-
Average
Exercise
Price
Per Share
 
$0.33 - $0.67   13,442,367    8.28   $0.65    11,533,358   $0.66 
$0.84 - $1.30   755,080    9.15   $1.09    445,705   $0.94 
$1.91 - $3.30   370,000    7.10   $2.97    368,333   $2.97 
$3.38 - $3.38   1,263,022    6.71   $3.38    1,263,022   $3.38 
$3.40 - $4.72   50,625    6.77   $3.40    50,625   $3.40 
$8.24 - $17.36   315    1.02   $12.94    315   $12.94 
$42.88 - $48.00   312    3.76   $45.17    312   $45.17 
    15,881,721    8.17   $0.95    13,661,670   $0.99 

 

Schedule of fair value-based measurement of stock options granted under the entity's stock plans estimated using Black-Scholes model

The weighted-average fair value-based measurement of stock options granted under the Company’s stock plans in the years ended December 31, 2019 and 2018 was $0.79 and $0.47 per share, respectively. The fair value- based measurement of stock options granted under the Company’s stock plans was estimated at the date of grant using the Black-Scholes model with the following assumptions:

 

    Year Ended December 31,
    2019   2018
Expected term   5 - 6 years   5 - 6 years
Expected volatility   96% - 99%   93% - 97%
Risk-free interest rate   1.74% - 2.59%   2.7% - 2.8%
Expected dividend yield   0%   0%
Schedule of total stock-based compensation expense recognized

Total expense for stock option grants recognized was as follows:

 

   Year ended December 31, 
   2019   2018 
General and administrative  $1,928   $4,611 
Research and development   97    201 
Total stock-based compensation  $2,025   $4,812