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Stock Option Plan (Tables)
12 Months Ended
Dec. 31, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Schedule of Share-based Compensation Expenses

During the years ended December 31, 2016, 2015 and 2014, the Company recorded employee share-based compensation expense from continuing operations of $1,573, $1,974 and $168, respectively. The Company recorded non-employee share-based compensation expense from continuing operations of $0 during the years ended December 31, 2016 and 2015, and $9 during the year ended December 31, 2014. Total share-based compensation expense included in the consolidated statements of operations is as follows:

 

 

 

Year Ended December 31,

 

 

 

2016

 

 

2015

 

 

2014

 

Research and development

 

$

477

 

 

$

541

 

 

$

98

 

General and administrative

 

 

1,096

 

 

 

1,433

 

 

 

79

 

Discontinued operations

 

 

 

 

 

410

 

 

 

 

 

 

$

1,573

 

 

$

2,384

 

 

$

177

 

 

Fair Value of Option Grant Estimated on Grant Date Using Black-Scholes Option-pricing Model

The fair value of each option grant is estimated on the grant date using the Black-Scholes option-pricing model, using the following weighted average assumptions:

 

 

 

Year Ended December 31,

 

 

 

2016

 

 

2015

 

 

2014

 

Estimated dividend yield

 

 

0.00

%

 

 

0.00

%

 

 

0.00

%

Expected volatility

 

 

75.08

%

 

65.96-102.77%

 

 

 

102.77

%

Risk-free interest rate

 

 

1.32

%

 

1.48-1.81%

 

 

 

1.88

%

Expected life of options (in years)

 

 

5.72

 

 

5.1-5.9

 

 

 

6.00

 

Weighted-average fair value per share

 

$

11.47

 

 

$

6.83

 

 

$

6.59 - 7.06

 

 

Summary of Stock Option Activity

Stock option activity for the periods indicated is as follows:

 

 

 

Shares

Available

for Grant

 

 

Shares

Subject to

Outstanding

Options

 

 

Weighted-

Average

Exercise

Price Per

Share

 

 

Weighted-

Average

Remaining

Contractual

Term (in years)

 

 

Aggregate

Intrinsic

Value

 

Options outstanding as of December 31, 2013

 

 

79,722

 

 

 

209,527

 

 

$

0.63

 

 

 

 

 

 

 

 

 

Additional shares reserved under plan

 

 

416,666

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options granted

 

 

(211,500

)

 

 

211,500

 

 

 

1.12

 

 

 

 

 

 

 

 

 

Options forfeited

 

 

17,083

 

 

 

(17,083

)

 

 

0.71

 

 

 

 

 

 

 

 

 

Options exercised

 

 

 

 

 

(67,431

)

 

 

0.70

 

 

 

 

 

 

 

 

 

Options outstanding as of December 31, 2014

 

 

301,971

 

 

 

336,513

 

 

$

0.91

 

 

 

 

 

 

 

 

 

Additional shares reserved under plan

 

 

416,666

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options granted

 

 

(366,909

)

 

 

366,909

 

 

 

8.80

 

 

 

 

 

 

 

 

 

Options forfeited

 

 

54,165

 

 

 

(54,165

)

 

 

3.70

 

 

 

 

 

 

 

 

 

Options exercised

 

 

 

 

 

(191,023

)

 

 

2.45

 

 

 

 

 

 

 

 

 

Options outstanding as of December 31, 2015

 

 

405,893

 

 

 

458,234

 

 

$

6.26

 

 

 

 

 

 

 

 

 

Additional shares reserved under plan

 

 

611,272

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options granted

 

 

(405,624

)

 

 

405,624

 

 

 

16.06

 

 

 

 

 

 

 

 

 

Options forfeited

 

 

3,666

 

 

 

(7,395

)

 

 

6.62

 

 

 

 

 

 

 

 

 

Options exercised

 

 

 

 

 

(31,333

)

 

 

1.11

 

 

 

 

 

 

 

 

 

Options outstanding as of December 31, 2016

 

 

615,207

 

 

 

825,130

 

 

$

11.27

 

 

 

8.54

 

 

$

12,994

 

Vested and expected to vest as of

   December 31, 2014

 

 

 

 

 

 

279,505

 

 

$

0.88

 

 

 

8.39

 

 

$

1,996

 

Exercisable as of December 31, 2014

 

 

 

 

 

 

92,833

 

 

$

0.54

 

 

 

6.44

 

 

$

694

 

Vested and expected to vest as of

   December 31, 2015

 

 

 

 

 

 

430,730

 

 

$

6.16

 

 

 

8.80

 

 

$

5,102

 

Exercisable as of December 31, 2015

 

 

 

 

 

 

232,827

 

 

$

4.27

 

 

 

8.38

 

 

$

3,196

 

Vested and expected to vest as of

   December 31, 2016

 

 

 

 

 

 

766,402

 

 

$

10.95

 

 

 

8.49

 

 

$

12,314

 

Exercisable as of December 31, 2016

 

 

 

 

 

 

303,162

 

 

$

7.32

 

 

 

7.53

 

 

$

5,974