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Stock-Based Compensation and Warrants (Tables)
3 Months Ended
Mar. 31, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Activity Under Stock Incentive Plans

A summary of activity under the stock incentive plans is as follows (in thousands, except share data and price per share):

 

 

 

Shares

Subject to

Outstanding

Options

 

 

Weighted-

Average

Exercise

Price Per

Share

 

 

Aggregate

Intrinsic

Value

 

Outstanding — Balance at December 31, 2018

 

 

530,044

 

 

$

35.53

 

 

$

 

Options granted

 

 

7,500

 

 

 

3.57

 

 

 

 

 

Options exercised

 

 

 

 

 

 

 

 

 

 

Options forfeited

 

 

(1,287

)

 

 

4.33

 

 

 

 

 

Options expired

 

 

(1,014

)

 

$

24.78

 

 

 

 

 

Outstanding — Balance at March 31, 2019

 

 

535,243

 

 

$

35.13

 

 

$

637

 

Vested and expected to vest — March 31, 2019

 

 

526,131

 

 

$

35.47

 

 

$

623

 

Exercisable —March 31, 2019

 

 

231,086

 

 

$

60.40

 

 

$

182

 

Weighted-Average Fair Value Assumption of Stock Option Awards

The fair value of stock option awards to executives and other service providers was estimated at the date of grant using the Black-Scholes Model with the following weighted-average assumption. There were 7,500 and 10,000 options granted during the three months ended March 31, 2019 and 2018, respectively.

 

 

 

Three Months Ended March 31,

 

 

 

 

2019

 

 

 

2018

 

Expected term (years)

 

 

2.58

 

 

 

6.25

 

Expected volatility

 

 

133

%

 

 

100

%

Risk-free interest rate

 

 

2.55

%

 

 

2.73

%

Dividend yield