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Stock Incentive Plans (Tables)
 6 Months Ended
Jun. 30, 2016
Schedule of status and changes in stock option plans

 

 

 

 

 

 

 

 

 

 

 

 

 

    

 

    

 

 

    

Weighted‑average

    

 

 

 

 

 

 

 

Weighted‑average

 

remaining

 

Aggregate

 

 

 

Number of

 

exercise

 

contractual term

 

intrinsic value

 

 

 

options

 

price

 

(in years)

 

(in thousands)

 

Employee

 

 

 

 

 

 

 

 

 

 

 

Outstanding at December 31, 2015

 
1,247,160

 

$
5.05

 
7.41

 

$
3,130

 

Granted

 
489,177

 

$
12.60

 

 

 

$

 

 

Exercised

 
(21,088)

 

$
2.16

 

 

 

$

 

 

Forfeited

 
(3,462)

 

$
6.74

 

 

 

$

 

 

Outstanding at June 30, 2016

 
1,711,787

 

$
7.24

 
7.79

 

$
11,574

 

Vested at June 30, 2016

 
740,887

 

$
3.30

 
5.63

 

$
7,929

 

Vested and expected to vest at June 30, 2016

 
1,565,466

 

$
6.89

 
7.62

 

$
11,134

 

Non‑Employee

 

 

 

 

 

 

 

 

 

 

 

Outstanding at December 31, 2015

 
322,220

 

$
2.93

 
5.5

 

$
1,288

 

Granted

 
84,615

 

$
7.12

 

 

 

$

 

 

Exercised

 
(5,084)

 

$
0.47

 

 

 

$

 

 

Forfeited

 

 —

 

$

 —

 

 

 

$

 

 

Outstanding at June 30, 2016

 
401,751

 

$
3.84

 
6.02

 

$
4,081

 

Vested at June 30, 2016

 
320,339

 

$
2.96

 
5.13

 

$
3,536

 

Vested and expected to vest at June 30, 2016

 
401,594

 

$
3.84

 
6.02

 

$
4,080

 

 

Schedule of status and changes in restricted stock award plan

 

 

 

 

 

 

 

 

 

 

 

Weighted‑

 

 

 

 

 

average

 

 

 

 

 

exercise

 

 

 

Shares

 

price

 

 

 

 

 

 

 

 

Unvested as of December 31, 2015

    
7,574

    

$
2.77

    

Issued

 

 —

 

 

 —

 

Vested

 
(3,791)

 

 
2.77

 

Unvested as of June 30, 2016

 
3,783

 

$
2.77

 

 

Summary of stock based compensation expense

The Company recorded stock-based compensation expense related to stock options and restricted common stock in the following expense categories of its consolidated statements of operations and comprehensive loss (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Six Months Ended

 

 

 

June 30, 

 

June 30,

 

 

 

2016

 

2015

 

2016

 

2015

 

 

 

 

 

 

 

 

 

 

 

Research and development

    

$
228

    

$
149

    

$
395

    

$
281

 

General and administrative

 

 
139

 

 
166

 

 
254

 

 
336

 

Total

 

$
367

 

$
315

 

$
649

 

$
617

 

 

Stock options to purchase common stock  
Schedule of weighted average assumptions used for employee stock option grants

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30, 

 

 

 

 

 

 

2016

 

2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk-free interest rate

    

 
1.39

%  

 
1.70

%  

 

 

 

Expected dividend yield

 

 

 —

 

 

 —

 

 

 

 

Expected life

 

 
6.05

 

 
6.02

 

 

 

 

Expected volatility

 

 
96.10

%  

 
93.50

%  

 

 

 

Weighted-average fair value of common stock

 

$
12.60

 

$
9.22

 

 

 

 

 

Non-employee stock options  
Schedule of weighted average assumptions used for employee stock option grants

 

 

 

 

 

 

 

 

Six Months Ended

 

 

 

June 30, 

 

 

 

2016

 

2015

 

 

 

 

 

 

 

Risk‑free interest rate

    
1.46

%  
1.50

%  

Expected dividend yield

 

 —

 

 —

 

Expected life (in years)

 
9.70

 
6.80

 

Expected volatility

 
90.37

%  
97.07

%