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Share-based Compensation (Tables)
12 Months Ended
Dec. 31, 2019
Share-based Compensation  
Schedule of share-based compensation expense

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 

 

    

2019

    

2018

    

2017

 

 

(in thousands)

Cost of goods sold

 

$

473

 

$

470

 

$

390

Research and development

 

 

340

 

 

344

 

 

394

Selling and marketing

 

 

293

 

 

731

 

 

913

General and administrative

 

 

1,811

 

 

1,776

 

 

2,354

 

 

$

2,917

 

$

3,321

 

$

4,051

 

Schedule of weighted-average key assumptions used in determining fair value of options granted

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 

 

 

    

2019

    

2018

    

2017

 

Estimated dividend yield

 

 

 0

%  

 

 0

%  

 

 0

%

Expected stock price volatility

 

 

60

%  

 

60

%  

 

60

%

Weighted-average risk-free interest rate

 

 

2.44

%  

 

2.75

%  

 

2.01

%

Expected life of option in years

 

 

6.08

 

 

6.13

 

 

6.06

 

Weighted-average option fair value at grant

 

$

1.24

 

$

3.93

 

$

4.09

 

 

Summary of outstanding and exercisable options

 

 

 

 

 

 

 

 

 

 

 

    

 

Weighted-

 

 

 

 

 

Number of

 

Average

 

Intrinsic

 

    

Options

    

Exercise Price

    

Value

 

 

 

 

 

 

 

(in thousands)

Outstanding at December 31, 2017

 

2,454,973

 

$

11.195

 

$

4,764

Exercisable at December 31, 2017

 

1,137,766

 

$

10.919

 

$

2,890

Granted

 

1,753,539

 

$

6.786

 

 

 

Exercised

 

(832)

 

 

0.320

 

 

 

Expired, forfeited or cancelled

 

(760,795)

 

 

11.281

 

 

 

Outstanding at December 31, 2018

 

3,446,885

 

$

8.935

 

$

70

Exercisable at December 31, 2018

 

1,643,011

 

$

10.627

 

$

70

Granted

 

2,119,708

 

$

2.163

 

 

 

Exercised

 

(36,040)

 

 

0.320

 

 

 

Expired, forfeited or cancelled

 

(1,099,587)

 

 

9.816

 

 

 

Outstanding at December 31, 2019

 

4,430,966

 

$

5.551

 

$

53

Exercisable at December 31, 2019

 

1,518,972

 

$

8.735

 

$

31

 

Summary of outstanding RSUs

 

 

 

 

 

 

 

    

 

    

Weighted-

 

 

Number of

 

Average

 

 

RSUs

 

Fair Value

Outstanding at December 31, 2017

 

85,000

 

$

7.15

Granted

 

93,750

 

 

8.30

Vested

 

(33,748)

 

 

7.34

Expired, forfeited or cancelled

 

(69,688)

 

 

7.77

Outstanding at December 31, 2018

 

75,314

 

$

7.93

Granted

 

 —

 

 

 —

Vested

 

(21,251)

 

 

7.86

Expired, forfeited or cancelled

 

 —

 

 

 —

Outstanding at December 31, 2019

 

54,063

 

$

7.96