XML 48 R31.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Stock Option Plans (Tables)
 12 Months Ended
Dec. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Share-based Compensation, Stock Options, Activity
Activity under the Company’s 2007 Stock Option Plan, NeuroCo 2015 Equity Incentive Plan and 2019 Plan is set forth below:
Options Outstanding
Shares Available for GrantNumber of SharesWeighted Average Exercise PriceWeighted Average Remaining Contractual Term (in Years)Aggregate Intrinsic Value (in thousands)
Balances, December 31, 2017328,290  4,308,890  $3.09  7.81$5,073  
Authorized223,664  
Options granted(629,716) 629,716  $6.51  
Options exercised—  (438,578) $1.50  
Options cancelled135,651  (135,651) $1.56  
Balances, December 31, 201857,889  4,364,377  $3.79  7.36$33,132  
Authorized2,317,000  
Options granted(848,023) 848,023  $22.77  
Options exercised—  (873,786) $1.77  
Options cancelled27,824  (27,824) $8.71  
Balances December 31, 20191,554,690  4,310,790  $7.91  7.27$140,234  
Vested and exercisable at December 31, 20192,514,891  $4.27  6.38$90,854  
Vested and expected to vest at December 31, 20194,310,790  $7.91  7.27$140,234  
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price
The following table summarizes information about stock options outstanding and vested as of December 31, 2019:
Options OutstandingOptions Vested
Exercise PriceOptions OutstandingWeighted Average Remaining Contractual Term (in Years)Weighted Average Exercise PriceNumber ExercisableWeighted Average Exercise Price
$1.35 - $3.16
2,072,765  5.86$1.84  1,770,060  $1.71  
$4.73 - $8.27
919,355  8.23$5.81  383,077  $5.72  
$11.29 - $20.00
1,192,804  8.73$16.63  352,383  $14.46  
$36.47 - $48.53
125,866  9.69$40.50  9,371  $45.57  
4,310,790  7.27$7.91  2,514,891  $4.27  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions The fair value of employee and nonemployee stock options was estimated using the following assumptions for the years ended December 31, 2019 and 2018:
Year Ended December 31,
20192018
Expected term (in years)
5.00 - 6.25
5.00 - 6.25
Expected volatility
42.4% - 42.9%
38.0% - 38.8%
Risk-free interest rate
1.47% - 2.54%
2.68% - 2.98%
Dividend yield—%  —%  
The fair value of the shares to be issued under the Company’s 2019 ESPP was estimated using the Black-Scholes valuation model with the following assumptions for the year ended December 31, 2019:
Year Ended
December 31,
2019
Expected term (in years)
0.50 - 0.63
Expected volatility
44.4% - 47.8%
Risk-free interest rate
1.58% - 2.45%
Dividend yield—%  
Stock-Based Compensation Expense Relating to Stock Options to Employees and Nonemployees
Total stock-based compensation expense relating to the Company’s stock options and 2019 ESPP during the years ended December 31, 2019 and 2018, is as follows (in thousands):
Year Ended December 31,
20192018
Cost of goods sold$179  $51  
Research and development expenses426  256  
Selling, general and administrative expenses2,372  604  
$2,977  $911