XML 64 R32.htm IDEA: XBRL DOCUMENT v3.19.1
Stock Based Awards (Tables)
12 Months Ended
Dec. 31, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Stock Option Activity

Activity under the Company’s stock option plans is set forth below:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

Remaining

 

 

Aggregate

 

 

 

Shares

 

 

 

 

 

 

Average

 

 

Contractual

 

 

Intrinsic

 

 

 

Available

 

 

Number of

 

 

Exercise

 

 

Life

 

 

Value

 

 

 

for Grant

 

 

Shares

 

 

Price

 

 

(in years)

 

 

(in thousands)

 

Balances, January 1, 2017

 

 

174,019

 

 

 

742,052

 

 

$

66.96

 

 

 

 

 

 

 

 

 

Additional shares authorized

 

 

261,329

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options granted

 

 

(227,450

)

 

 

227,450

 

 

 

95.50

 

 

 

 

 

 

 

 

 

Restricted stock units granted

 

 

(428,056

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options exercised

 

 

 

 

 

(141,833

)

 

 

17.62

 

 

 

 

 

 

 

 

 

Options cancelled

 

 

220,158

 

 

 

(220,158

)

 

 

87.90

 

 

 

 

 

 

 

 

 

Balances, December 31, 2017

 

 

 

 

 

607,511

 

 

 

81.60

 

 

 

 

 

 

 

 

 

Additional shares authorized

 

 

269,535

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Assumption of option plans associated with the merger

 

 

660,151

 

 

 

1,183,950

 

 

 

0.44

 

 

 

 

 

 

 

 

 

Options granted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Restricted stock units granted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options exercised

 

 

 

 

 

(3,643

)

 

 

9.66

 

 

 

 

 

 

 

 

 

Options cancelled

 

 

271,895

 

 

 

(271,895

)

 

 

80.09

 

 

 

 

 

 

 

 

 

Balances, December 31, 2018

 

 

1,201,581

 

 

 

1,515,923

 

 

$

18.65

 

 

 

6.5

 

 

$

3,650

 

Vested and expected to vest as of December 31, 2018

 

 

 

 

 

 

1,514,245

 

 

$

18.58

 

 

 

6.5

 

 

$

3,650

 

Exercisable as of December 31, 2018

 

 

 

 

 

 

1,469,854

 

 

$

16.76

 

 

 

6.5

 

 

$

3,650

 

Stock Options Outstanding and Exercisable under Stock Option Plans

The following table summarizes information with respect to stock options outstanding and currently exercisable and vested as of December 31, 2018:

 

 

 

 

 

 

 

 

 

 

 

 

Options Exercisable

 

 

 

Options Outstanding

 

 

and Vested

 

 

 

 

 

 

 

Weighted Average

 

 

 

 

 

 

Weighted Average

 

 

 

 

 

 

 

Remaining

 

 

 

 

 

 

Remaining

 

Range of

 

Number

 

 

Contractual

 

 

Number

 

 

Contractual

 

Exercise Prices

 

Outstanding

 

 

Life (in Years)

 

 

Outstanding

 

 

Life (in Years)

 

$0.06-$0.06

 

 

86,867

 

 

 

2.5

 

 

 

86,867

 

 

 

2.5

 

$0.24-$0.24

 

 

621,098

 

 

 

6.4

 

 

 

621,098

 

 

 

6.4

 

$0.66-$0.90

 

 

475,985

 

 

 

8.5

 

 

 

475,985

 

 

 

8.5

 

$7.59-$126.00

 

 

312,679

 

 

 

5.1

 

 

 

266,644

 

 

 

5.1

 

$127.80-$191.76

 

 

19,294

 

 

 

3.8

 

 

 

19,260

 

 

 

3.8

 

 

 

 

1,515,923

 

 

 

 

 

 

 

1,469,854

 

 

 

 

 

Summary of Fair Value of Employee Stock Options

The fair value of employee stock options was estimated using the Black-Scholes model with the following weighted-average assumptions:

 

 

 

Year Ended December 31,

 

 

 

2018

 

 

2017

 

Expected volatility

 

 

132.0

%

 

 

78.0

%

Risk-free interest rate

 

 

3.0

%

 

 

2.1

%

Dividend yield

 

 

0.0

%

 

 

0.0

%

Expected life (in years)

 

 

3.3

 

 

 

6.2

 

Schedule of Estimated Stock-Based Compensation Expense

Stock-based compensation expense, net of estimated forfeitures, is reflected in the statements of operations and comprehensive loss as follows (in thousands):

 

 

 

Year Ended December 31,

 

 

 

2018

 

 

2017

 

Operating Expenses

 

 

 

 

 

 

 

 

Research and development

 

$

2,946

 

 

$

4,549

 

General and administrative

 

 

13,193

 

 

 

8,800

 

Total

 

$

16,139

 

 

$

13,349

 

Summary of Restricted Stock Activity

A summary of the Company’s restricted stock activity is presented in the following tables:

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

Average

 

 

 

Number of

 

 

Grant Date

 

 

 

Shares

 

 

Fair Value

 

Restricted Stock Units

 

 

 

 

 

 

 

 

Unvested at December 31, 2017

 

 

419,163

 

 

$

32.56

 

Granted

 

 

 

 

 

 

Vested

 

 

(128,136

)

 

 

35.60

 

Forfeited/canceled

 

 

(173,430

)

 

 

31.12

 

Unvested at December 31, 2018

 

 

117,597

 

 

$

31.37