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Share-Based Payment Awards (Tables)

3 Months Ended

Mar. 31, 2021

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

The following table provides a reconciliation of stock option activity under the Company’s equity incentive plans and for inducement awards for the three months ended March 31, 2021:

						Weighted
				Weighted		Average
				Average		Remaining		Aggregate
	Number			Exercise		Contractual		Intrinsic
	of Options			Price		Life		Value
						(in years)		(in thousands)
Outstanding at January 1, 2021		1,338,880		$	20.86
Granted		120,427			12.94
Exercised		(827	)		11.65
Forfeited		(16,427	)		16.01
Outstanding at March 31, 2021		1,442,053		$	20.26		7.50	$	205
Exercisable at March 31, 2021		774,404		$	24.38		6.44	$	3

Schedule of Key Assumptions Used

In determining the grant date fair value of option awards during the three months ended March 31, 2021, the Company applied the Black-Scholes option pricing model based on the following key assumptions:

Option life (in years)		4.75 - 6.08
Stock volatility		72.47% - 78.09%
Risk-free interest rate		0.42% - 1.15%
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 three months ended March 31, 2021 (in thousands):

	Three Months
	Ended
	Mar 31, 2021
Weighted-average grant date fair value per share	$	8.26
Total cash received from exercise of stock options		10
Total intrinsic value of stock options exercised		2

Summary of Restricted Stock Unit Activity

The following table provides a reconciliation of RSU activity under the 2016 Plan for the three months ended March 31, 2021:

				Weighted
	Number of			Average
	Restricted			Grant Date
	Stock Units			Fair Value
Nonvested at January 1, 2021		149,004		$	13.85
Granted		56,055			13.09
Vested		(68,465	)		14.00
Forfeited		(605	)		11.68
Nonvested at March 31, 2021		135,989		$	13.47

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 the three months ended March 31, 2021 and 2020, respectively, as follows (in thousands):

	Three Months Ended March 31,
	2021		2020
Compensation expense included in:
Research and development	$	484	$	263
Sales and marketing		263		252
General and administrative		241		645
	$	988	$	1,160