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Stock Incentive Plans (Tables)
12 Months Ended
Dec. 31, 2016
Summary of incentive plan activity

                                                                                                                                                                                    

 

 

 

Shares
Available
for
Grant

 

Stock
Options
Outstanding

 

RSUs
Outstanding

 

Weighted
Average
Stock Option
Exercise Price

 

Weighted
Average
Remaining
Contractual Life
(Years)

 

Aggregate
Intrinsic
Value

 

2013 Equity Incentive Plan Balance—December 31, 2014

 

 

119,077

 

 

659,554

 

 

68,902

 

$

2.67

 

 

 

 

 

 

 

Additional shares authorized

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options granted

 

 

(176,364

)

 

176,364

 

 

 

$

7.00

 

 

 

 

 

 

 

Options cancelled

 

 

95,784

 

 

(95,784

)

 

 

$

2.53

 

 

 

 

 

 

 

Options available for grant cancelled upon IPO

 

 

(51,863

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options cancelled post-IPO not rolled back into the 2013 Plan

 

 

 

 

(42,128

)

 

 

 

 

 

 

 

 

 

 

 

 

Options exercised

 

 

 

 

(5,000

)

 

 

$

2.53

 

 

 

 

 

 

 

RSUs granted

 

 

(1,484

)

 

 

 

1,484

 

 

 

 

 

 

 

 

 

 

RSUs cancelled

 

 

14,850

 

 

 

 

(14,850

)

 

 

 

 

 

 

 

 

 

​  

​  

​  

​  

​  

​  

​  

​  

2013 Equity Incentive Plan Balance—December 31, 2015

 

 

 

 

693,006

 

 

55,536

 

$

3.74

 

 

 

 

 

 

 

2014 Stock Stock Plan Balance—December 31, 2014

 

 


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares authorized

 

 

333,333

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options granted

 

 

(241,500

)

 

241,500

 

 

 

 

$

4.32

 

 

 

 

 

 

 

Options cancelled

 

 

15,000

 

 

(15,000

)

 

 

 

$

5.09

 

 

 

 

 

 

 

​  

​  

​  

​  

​  

​  

​  

​  

Combined Incentive Plan Balance—December 31, 2015

 

 

106,833

 

 

919,506

 

 

55,536

 

$

3.87

 

 

8.81

 

$

 

2013 Equity Incentive Plan Activity:

 

 


 

 

 


 

 

 


 

 

 


 

 

 


 

 

 


 

 

Options cancelled not rolled back into the 2013 Plan

 

 

 

 

 

(127,629

)

 

 

 

$

4.19

 

 

 

 

 

 

 

RSUs vested and released

 

 

 

 

 

 

 

 

(27,768

)

 

 

 

 

 

 

 

 

 

RSUs cancelled

 

 

 

 

 

 

 

 

(6,979

)

 

 

 

 

 

 

 

 

 

2014 Stock Incentive Plan Activity:

 

 


 

 

 


 

 

 


 

 

 


 

 

 


 

 

 


 

 

Additional shares authorized

 

 

1,712,498

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options granted

 

 

(1,927,121

)

 

1,927,121

 

 

 

 

$

1.97

 

 

 

 

 

 

 

Options cancelled

 

 

147,778

 

 

(147,778

)

 

 

 

$

2.28

 

 

 

 

 

 

 

​  

​  

​  

​  

​  

​  

​  

​  

Combined Incentive Plan Balance—December 31, 2016

 

 

39,988

 

 

2,571,220

 

 

20,789

 

$

2.52

 

 

8.77

 

 

 

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Options vested and exercisable—December 31, 2016

 

 

 

 

 

983,147

 

 

 

 

$

3.41

 

 

8.25

 

$

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Options vested and expected to vest—December 31, 2016

 

 

 

 

 

2,163,246

 

 

 

 

$

2.52

 

 

8.73

 

$

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

Summary of stock-based compensation expense

                                                                                                                                                                                    

 

 

 

Years Ended
December 31,

 

 

 

2016

 

2015

 

Research and development expense

 

$

181,489

 

$

472,145

 

Sales and marketing expense

 

 

73,679

 

 

54,115

 

General and administrative expense

 

 

462,759

 

 

465,905

 

​  

​  

​  

​  

Total

 

$

717,927

 

$

992,165

 

​  

​  

​  

​  

​  

​  

​  

​  

 

Employee stock options  
Schedule of estimated grant-date fair value of stock options calculated using the Black-Scholes option-pricing model

                                                                                                                                                                                    

 

 

 

Years Ended
December 31,

 

 

2016

 

2015

Weighted-average volatility

 

66.25 - 72.08%

 

55.43 - 61.51%

Weighted-average expected term (years)

 

5.00 - 5.82

 

5.15 - 5.82

Risk-free interest rate

 

1.10 - 2.15%

 

1.60 - 1.84%

Expected dividend yield

 

 

 

Non-employee stock options  
Schedule of estimated grant-date fair value of stock options calculated using the Black-Scholes option-pricing model

                                                                                                                                                                                    

 

 

 

Years Ended
December 31,

 

 

 

2016

 

2015

 

Weighted-average volatility

 

78.30 - 80.04%

 

 

76.63

%

Weighted-average expected term (years)

 

9.19 - 10.00

 

 

9.69

 

Risk-free interest rate

 

1.32 - 2.46%

 

 

2.25

%

Expected dividend yield