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Share-Based Payment Awards (Tables)
6 Months Ended
Jun. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Stock Option Activity Under Plan

The following table provides a reconciliation of stock option activity under the Company’s equity incentive plans and for inducement awards for the six months ended June 30, 2020:

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

Average

 

 

 

 

 

 

 

 

 

 

 

Average

 

 

Remaining

 

 

Aggregate

 

 

 

Number

 

 

Exercise

 

 

Contractual

 

 

Intrinsic

 

 

 

of Options

 

 

Price

 

 

Life

 

 

Value

 

 

 

 

 

 

 

 

 

 

 

(in years)

 

 

(in thousands)

 

Outstanding at January 1, 2020

 

 

10,909,800

 

 

$

2.52

 

 

 

 

 

 

 

 

 

Granted

 

 

3,613,897

 

 

 

1.30

 

 

 

 

 

 

 

 

 

Exercised

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(437,482

)

 

 

1.84

 

 

 

 

 

 

 

 

 

Expired

 

 

(413,865

)

 

 

3.70

 

 

 

 

 

 

 

 

 

Outstanding at June 30, 2020

 

 

13,672,350

 

 

$

2.18

 

 

 

7.93

 

 

$

 

Exercisable at June 30, 2020

 

 

5,689,656

 

 

$

2.74

 

 

 

6.47

 

 

$

 

Schedule of Key Assumptions Used

In determining the grant date fair value of option awards during the six months ended June 30, 2020, the Company applied the Black-Scholes option pricing model based on the following key assumptions:

 

Option life (in years)

 

5.5-6.02

 

Stock volatility

 

63.85%-66.9%

 

Risk-free interest rate

 

0.51%-2.51%

 

Expected dividends

 

0.0%

 

 

Summary of Information about Stock Options

The following table summarizes information about employee, non-executive director and external consultant stock options for the six months ended June 30, 2020 (in thousands, except per share amount):

 

 

 

Six Months

Ended

 

 

 

June 30, 2020

 

Weighted-average grant date fair value per share

 

$

0.76

 

Total cash received from exercise of stock options

 

 

 

Total intrinsic value of stock options exercised

 

 

 

Summary of Restricted Stock Unit Activity

The following table provides a reconciliation of RSU activity under the 2016 Plan for the six months ended June 30, 2020:

 

 

 

 

 

 

 

Weighted

 

 

 

Number of

 

 

Average

 

 

 

Restricted

 

 

Grant Date

 

 

 

Stock Units

 

 

Fair Value

 

Nonvested at January 1, 2020

 

 

786,899

 

 

$

1.83

 

Granted

 

 

1,437,750

 

 

 

1.29

 

Vested

 

 

(697,505

)

 

 

1.53

 

Forfeited

 

 

(63,623

)

 

 

1.85

 

Nonvested at June 30, 2020

 

 

1,463,521

 

 

$

1.44

 

Compensation Expense from Stock-Based Payment Awards

The Company’s consolidated statements of comprehensive loss included total compensation expense from stock-based payment awards for each of the three and six months ended June 30, 2020 and 2019, respectively, as follows (in thousands):

 

 

 

Three Months Ended

June 30,

 

 

Six Months Ended

June 30,

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Compensation expense included in:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Research and development

 

$

(49

)

 

$

268

 

 

$

214

 

 

$

664

 

Sales and marketing

 

 

141

 

 

 

179

 

 

 

393

 

 

 

323

 

General and administrative

 

 

643

 

 

 

1,049

 

 

 

1,288

 

 

 

1,747

 

 

 

$

735

 

 

$

1,496

 

 

$

1,895

 

 

$

2,734