XML 44 R27.htm IDEA: XBRL DOCUMENT v3.20.1
Stock Based Awards (Tables)
12 Months Ended
Dec. 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, 2018

 

 

607,511

 

 

$

81.60

 

 

 

 

 

 

 

 

 

Additional shares authorized

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Assumption of option plans associated with the merger

 

 

1,183,950

 

 

 

0.44

 

 

 

 

 

 

 

 

 

Options granted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Restricted stock units granted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options exercised

 

 

(3,643

)

 

 

9.66

 

 

 

 

 

 

 

 

 

Options cancelled

 

 

(271,895

)

 

 

80.09

 

 

 

 

 

 

 

 

 

Balances, December 31, 2018

 

 

1,515,923

 

 

 

18.65

 

 

 

 

 

 

 

 

 

Additional shares authorized

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options granted

 

 

483,328

 

 

 

5.55

 

 

 

 

 

 

 

 

 

Restricted stock units granted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options exercised

 

 

(39,686

)

 

 

2.40

 

 

 

 

 

 

 

 

 

Options cancelled

 

 

(139,405

)

 

 

81.33

 

 

 

 

 

 

 

 

 

Balances, December 31, 2019

 

 

1,820,160

 

 

$

10.70

 

 

 

6.6

 

 

$

18,957

 

Vested and expected to vest as of December 31, 2019

 

 

1,796,997

 

 

$

10.75

 

 

 

6.6

 

 

$

18,778

 

Exercisable as of December 31, 2019

 

 

1,474,782

 

 

$

11.31

 

 

 

6.0

 

 

$

16,311

 

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, 2019:

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

1.5

 

 

 

86,867

 

 

 

1.5

 

$0.24-$0.24

 

 

621,098

 

 

 

5.4

 

 

 

621,098

 

 

 

5.4

 

$0.66-$0.90

 

 

451,632

 

 

 

7.8

 

 

 

451,632

 

 

 

7.8

 

$3.54-$5.83

 

 

385,673

 

 

 

8.8

 

 

 

110,828

 

 

 

8.8

 

$5.87-$191.76

 

 

274,890

 

 

 

5.8

 

 

 

204,357

 

 

 

5.8

 

 

 

 

1,820,160

 

 

 

 

 

 

 

1,474,782

 

 

 

 

 

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,

 

 

 

2019

 

 

2018

 

Expected volatility

 

 

111.0

%

 

 

132.0

%

Risk-free interest rate

 

 

2.4

%

 

 

3.0

%

Dividend yield

 

 

0.0

%

 

 

0.0

%

Expected life (in years)

 

 

6.0

 

 

 

3.3

 

Schedule of Estimated Stock-Based Compensation Expense

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

 

 

 

Year Ended December 31,

 

 

 

2019

 

 

2018

 

Operating Expenses

 

 

 

 

 

 

 

 

Research and development

 

$

347

 

 

$

2,946

 

General and administrative

 

 

3,052

 

 

 

13,193

 

Total

 

$

3,399

 

 

$

16,139

 

 

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, 2018

 

 

117,597

 

 

$

31.37

 

Granted

 

 

 

 

 

 

Vested

 

 

(59,567

)

 

 

31.37

 

Forfeited/canceled

 

 

(15,918

)

 

 

27.16

 

Unvested at December 31, 2019

 

 

42,112

 

 

$

32.97