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Stock-Based Compensation (Tables)
 9 Months Ended
Sep. 30, 2015
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Company's Stock Option Activity and Related Information

A summary of the Company’s stock option activity and related information is as follows:

 

 

 

 

 

 

 

Options Outstanding

 

 

 

Shares

Available

for Grant

 

 

Number

of Stock

Options

Outstanding

 

 

Weighted-

Average

Exercise

Price

 

 

Weighted-

Average

Remaining

Contractual Life

(Years)

 

 

Aggregate

Intrinsic

Value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(In thousands)

 

Balance at December 31, 2014

 

 

295,101

 

 

 

4,248,519

 

 

$

0.76

 

 

 

7.7

 

 

$

8,343

 

Additional authorized (unaudited)

 

 

4,708,447

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Granted (unaudited)

 

 

(1,911,137

)

 

 

1,911,137

 

 

 

5.04

 

 

 

 

 

 

 

 

 

Exercised (unaudited)

 

 

—

 

 

 

(26,555

)

 

 

0.73

 

 

 

 

 

 

 

 

 

Cancelled (unaudited)

 

 

121,941

 

 

 

(121,941

)

 

 

1.30

 

 

 

 

 

 

 

 

 

Balance at September 30, 2015 (unaudited)

 

 

3,214,352

 

 

 

6,011,160

 

 

$

2.11

 

 

 

7.8

 

 

$

18,755

 

Vested and exercisable at September 30, 2015 (unaudited)

 

 

 

 

 

 

2,911,734

 

 

$

0.82

 

 

 

6.5

 

 

$

12,702

 

Vested and expected to vest at September 30, 2015

   (unaudited)

 

 

 

 

 

 

4,576,826

 

 

$

1.88

 

 

 

7.6

 

 

$

15,329

 

 
Schedule of Weighted-Average Assumptions Fair Value of Employee Stock Options Estimated Date of Grant Using Black-Scholes Option-Pricing Model

For the nine months ended September 30, 2015, the weighted average fair value of employee stock options was estimated at the date of grant using a Black-Scholes option-pricing model with the following assumptions. 1,911,137 shares were granted during the nine months ended September 30, 2015.

 

 

 

Nine Months

Ended September 30,

2015

 

 

 

(Unaudited)

 

Expected term (in years)

 

 

6.0

 

Expected volatility%

 

 

68.7%

 

Risk-free interest rate%

 

 

1.8%

 

Expected dividend yield%

 

 

0.0%

 

 
Summary of Stock-Based Compensation Expense

Total stock-based compensation expense recognized in the Company’s condensed consolidated statements of operations is classified as follows (in thousands):

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2015

 

 

2014

 

 

2015

 

 

2014

 

 

 

(Unaudited)

 

Research and development

 

$

95

 

 

$

14

 

 

$

143

 

 

$

70

 

Selling and marketing

 

 

16

 

 

 

3

 

 

 

26

 

 

 

11

 

General and administrative

 

 

272

 

 

 

41

 

 

 

362

 

 

 

181

 

Total stock-based compensation expense

 

$

383

 

 

$

58

 

 

$

531

 

 

$

262