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Stockholders' Equity (Tables)
12 Months Ended
Dec. 31, 2018
Equity [Abstract]  
Summary of Stock Based Compensation Expense

Stock compensation expense was allocated between departments in continuing operations as follows (in thousands).

 

 

 

Year ended

 

 

 

December 31,

2018

 

 

December 31,

2017

 

Research and development

 

$

205

 

 

$

93

 

General and administrative

 

 

707

 

 

 

787

 

Total

 

$

912

 

 

$

880

 

Schedule of Fair Value of Award Granted Using Black-Scholes Option Pricing Model The fair value of each award granted was estimated on the date of grant using the Black-Scholes option pricing model with the following assumptions

 

 

Year Ended

 

 

December 31,

2018

 

December 31,

2017

Expected life (years)

 

5.5-6.0

 

5.5-6.1

Risk-free interest rate

 

2.7%-2.8%

 

1.9%-2.2%

Volatility

 

70%-71%

 

61%-69%

Dividend rate

 

— %

 

— %

 

Summary of Stock Option Transactions

The following table summarizes stock option transactions for the years ended December 31, 2018 and 2017 as issued under the Plans.

 

 

 

Shares Available

 

 

Number of

Options

 

 

Weighted-

Average

Exercise

Price per

 

 

Weighted

Average

Remaining

Contractual

Term

 

 

 

for Grant

 

 

Outstanding

 

 

Share

 

 

(in years)

 

Balance at January 1, 2017

 

 

191,770

 

 

 

581,687

 

 

$

17.10

 

 

 

8.48

 

Additional shares authorized

 

 

134,295

 

 

 

 

 

 

 

 

 

 

 

 

 

Amendment to plan to authorize additional shares

 

 

1,785,837

 

 

 

 

 

 

 

 

 

 

 

 

 

Options granted

 

 

(622,755

)

 

 

622,755

 

 

$

3.04

 

 

 

 

 

Options exercised

 

 

 

 

 

 

 

 

 

 

 

 

Options canceled/forfeited

 

 

177,455

 

 

 

(177,455

)

 

$

8.84

 

 

 

 

Balance at December 31, 2017

 

 

1,666,602

 

 

 

1,026,987

 

 

$

9.99

 

 

 

7.94

 

Additional shares authorized

 

 

223,742

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares allocated to grants of restricted stock units

 

 

(99,217

)

 

 

 

 

 

 

 

 

 

 

 

 

Options granted

 

 

(756,086

)

 

 

756,086

 

 

$

1.68

 

 

 

 

 

Options exercised

 

 

 

 

 

 

 

 

 

 

 

 

Options canceled/forfeited

 

 

115,920

 

 

 

(115,920

)

 

$

12.72

 

 

 

 

Balance at December 31, 2018

 

 

1,150,961

 

 

 

1,667,153

 

 

$

6.03

 

 

 

8.27

 

Options vested at December 31, 2018

 

 

 

 

 

 

820,422

 

 

$

9.85

 

 

 

7.64

 

Options vested and expected to vest at December 31, 2018

 

 

 

 

 

 

1,667,153

 

 

$

6.03

 

 

 

8.27