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Stockholder's Equity (Tables)
3 Months Ended
Mar. 31, 2019
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

 

 

 

 

 

 

 

Average

 

 

Contractual

 

 

Intrinsic

 

 

 

Number of

 

 

Exercise

 

 

Life

 

 

Value

 

 

 

Shares

 

 

Price

 

 

(in years)

 

 

(in thousands)

 

Balances, January 1, 2019

 

 

1,515,923

 

 

$

18.65

 

 

 

 

 

 

 

 

 

Options granted

 

 

396,128

 

 

 

5.52

 

 

 

 

 

 

 

 

 

Options cancelled

 

 

(60,917

)

 

 

89.77

 

 

 

 

 

 

 

 

 

Balances, March 31, 2019

 

 

1,851,134

 

 

$

13.50

 

 

 

7.2

 

 

$

8,424

 

Outstanding and expected to vest as of March 31, 2019

 

 

1,816,265

 

 

$

13.60

 

 

 

7.2

 

 

$

8,380

 

Exercisable as of March 31, 2019

 

 

1,449,684

 

 

$

14.06

 

 

 

6.6

 

 

$

7,897

 

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:

 

 

 

March 31,

 

 

 

2019

 

Expected volatility

 

 

111.0

%

Risk-free interest rate

 

 

2.5

%

Dividend yield

 

 

0.0

%

Expected life (in years)

 

 

6.0