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Stock Incentive Plans (Tables)
6 Months Ended
Jun. 30, 2017
Stock Incentive Plans  
Summary of incentive plan activity

 

 

 

 

 

 

 

 

Weighted

 

Weighted Average

 

 

 

 

 

Shares

 

 

 

 

 

Average

 

Remaining

 

Aggregate

 

 

 

Available

 

Stock Options

 

RSUs

 

Stock Option

 

Contractual Life

 

Intrinsic

 

 

 

for Grant

 

Outstanding

 

Outstanding

 

Exercise Price

 

(Years)

 

Value

 

Combined Incentive Plan Balance—December 31, 2016

 

39,988

 

2,571,220

 

20,789

 

$

2.52

 

8.77

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2013 Equity Incentive Plan Activity:

 

 

 

 

 

 

 

 

 

 

 

 

 

None

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2014 Stock Incentive Plan Activity:

 

 

 

 

 

 

 

 

 

 

 

 

 

Additional shares authorized

 

280,142

 

 

 

 

 

 

 

 

 

 

 

Q1 Options granted

 

(18,000

)

18,000

 

 

 

0.71

 

 

 

 

 

Q1 Options cancelled

 

60,570

 

(60,570

)

 

 

1.67

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q2 Options granted

 

(20,000

)

20,000

 

 

 

0.79

 

 

 

 

 

Q2 Options cancelled

 

107,799

 

(107,799

)

 

 

1.47

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Combined Incentive Plan Balance—June 30, 2017

 

450,499

 

2,440,851

 

20,789

 

$

2.56

 

8.44

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options vested and exercisable—June 30, 2017

 

 

 

1,297,589

 

 

 

$

3.21

 

7.93

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options vested and expected to vest—June 30, 2017

 

 

 

2,128,319

 

 

 

$

2.60

 

8.38

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Summary of stock-based compensation expense

 

 

Three Months Ended

 

Six Months Ended

 

 

 

June 30,

 

June 30,

 

 

 

2017

 

2016

 

2017

 

2016

 

Research and development expense

 

$

58,173

 

$

37,284

 

$

123,972

 

$

62,617

 

Sales and marketing expense

 

7,711

 

 

15,369

 

8,681

 

General and administrative expense

 

150,250

 

88,238

 

304,829

 

157,766

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

216,134

 

$

125,522

 

$

444,170

 

$

229,064

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

Three Months Ended

 

Six Months Ended

 

 

 

June 30,

 

June 30,

 

 

 

2017

 

2016

 

2017

 

2016

 

Weighted-average volatility

 

76.75%

 

66.25-69.14%

 

74.26-76.75%

 

66.25-69.14%

 

Weighted-average expected term (years)

 

5.82

 

5.67-5.82

 

5.82

 

5.67-5.82

 

Risk-free interest rate

 

1.97%

 

1.36-1.49%

 

1.97-1.98%

 

1.36-1.49%

 

Expected dividend yield

 

 

 

 

 

 

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

 

 

Three Months Ended

 

Six Months Ended

 

 

 

June 30,

 

June 30,

 

 

 

2017

 

2016

 

2017

 

2016

 

Weighted-average volatility

 

 

78.30-80.04%

 

 

78.30-80.04%

 

Weighted-average expected term (years)

 

 

9.19-9.25

 

 

9.19-9.44

 

Risk-free interest rate

 

 

1.44-1.66%

 

 

1.44-1.74%

 

Expected dividend yield