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Common Stock, Common Stock Warrants and Stock Option Plan (Tables)

12 Months Ended

Dec. 31, 2017

Schedule of Stock Reserved for Future Issuance

As of December 31, 2017 and 2016, we had reserved shares of common stock for future issuances as follows:


	December 31,
	2017	2016
Warrants to purchase common stock	389,423	411,514
Stock option plan:
Options outstanding	1,560,453	991,895
Restricted stock units outstanding	509,894	490,954
Shares available for future grants/RSU grants	580,827	1,275,685
Shares available for ESPP	275,587	231,355
Total	3,316,184	3,401,403

Summary of Outstanding Common Stock Warrants

In connection with the conversion of preferred stock warrants upon the completion of our IPO on October 30, 2015, the following common stock warrants were outstanding:


As of December 31, 2017
Total amount of securities issuable
under the outstanding warrants	Exercise Price		Issuance Date	Expiration Date
74,141	$	30.35	2012-2013	2019
315,282	$	2.38	2014-2015	2022-2024
389,423	$	7.71


As of December 31, 2016
Total amount of securities issuable
under the outstanding warrants	Exercise Price		Issuance Date	Expiration Date
74,141	$	30.35	2012-2013	2019
7,378	$	12.20	2012 - 2013	2017
329,995	$	2.38	2014-2015	2022-2024
411,514	$	7.60

Summary of Stock Option Activity


	Stock Options
				Weighted-
		Weighted-		Average
		Average		Remaining	Aggregate
		Exercise		Contractual	Intrinsic
	Shares	Price		Term (Years)	Value
	(aggregate intrinsic value in thousands)
Outstanding as of December 31, 2014	604,412	$	1.57	6.8	$	—
Granted	202,662		5.18
Exercised	(5,952)		1.67
Canceled	(4,766)		2.31
Outstanding as of December 31, 2015	796,356		2.49	6.5	$	4,157
Granted	230,200		3.38
Exercised	(13,112)		1.80
Canceled	(21,549)		3.73
Outstanding as of December 31, 2016	991,895	$	2.68	6.3	$	161
Granted	835,480		4.30
Exercised	(230,123)		1.92
Canceled	(36,799)		4.16
Outstanding as of December 31, 2017	1,560,453	$	3.63	7.6	$	4,632
Options vested and expected to vest as of December 31, 2017	1,500,983	$	3.60	7.5	$	4,501
Options vested and exercisable as of December 31, 2017	792,235	$	2.95	6.2	$	2,895

Summary of Restricted Stock Units Activity


	Restricted Stock Units
				Weighted-
		Weighted-		Average
		Average		Remaining	Aggregate
		Grant Date		Contractual	Intrinsic
	Shares	Fair Value		Term (Years)	Value
	(aggregate intrinsic value in thousands)
Outstanding as of December 31, 2014	—		—
Granted	880,072	$	5.95
Released	—		—
Forfeited/expired	(5,564)		5.95
Outstanding as of December 31, 2015	874,508	$	5.95	1.8	$	6,742
Granted	69,414		4.82
Released	(438,086)		5.95
Forfeited/expired	(14,882)		5.70
Outstanding as of December 31, 2016	490,954		5.80	0.5	$	908
Granted	541,513		2.88
Released	(497,009)		5.64
Forfeited/expired	(25,564)		5.98
Outstanding as of December 31, 2017	509,894	$	2.84	1.4	$	3,288

Schedule of Additional Information Regarding Stock Options Outstanding and Vested

Additional information regarding stock options outstanding and vested as of December 31, 2017 is summarized below:


					Options Vested and
	Options Outstanding				Exercisable
		Weighted-	Weighted-			Weighted-
	Number of	Average	Average		Shares	Average
	Stock	Remaining	Exercise		subject	Exercise
	Options	Contractual	Price per		to Stock	Price per
Exercise Prices	Outstanding	Life (Years)	Share		Options	Share
$1.60	11,759	8.8	$	1.60	6,424	$	1.60
$1.65	398,988	4.4		1.65	383,572		1.65
$3.30	115,984	6.8		3.30	115,913		3.30
$3.48	170,238	8.0		3.48	114,715		3.48
$3.55	370,275	9.2		3.55	58,578		3.55
$3.60	132,100	9.1		3.60	32,407		3.60
$5.25	281,852	9.1		5.25	45,273		5.25
$7.85	25,500	9.8		7.85	—		—
$10.00	53,757	7.8		10.00	35,353		10.00
$1.60-$10.00	1,560,453	7.6		3.63	792,235		2.95

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

+ References + Details