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Stockholder's Equity (Tables)
6 Months Ended
Jun. 30, 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

 

 

 

438,328

 

 

 

5.53

 

 

 

 

 

 

 

 

 

Options cancelled

 

 

 

(97,382

)

 

 

96.15

 

 

 

 

 

 

 

 

 

Options exercised

 

 

 

(2,000

)

 

 

0.66

 

 

 

 

 

 

 

 

 

Balances, June 30, 2019

 

 

 

1,854,869

 

 

$

11.48

 

 

 

7.1

 

 

$

6,804

 

Outstanding and expected to vest as of June 30, 2019

 

 

 

1,821,599

 

 

$

11.55

 

 

 

7.1

 

 

$

6,796

 

Exercisable as of June 30, 2019

 

 

 

1,464,578

 

 

$

11.86

 

 

 

6.5

 

 

$

6,692

 

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:

 

 

 

June 30,

 

 

 

2019

 

Expected volatility

 

 

111.0

%

Risk-free interest rate

 

 

2.5

%

Dividend yield

 

 

0.0

%

Expected life (in years)

 

 

6.0