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Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 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 January 1, 2013

 

 

306,097

 

 

 

1,907,644

 

 

$

0.71

 

 

 

6.3

 

 

$

28

 

Additional authorized

 

 

2,359,662

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Granted

 

 

(1,190,349

)

 

 

1,190,349

 

 

 

0.70

 

 

 

 

 

 

 

 

 

Exercised

 

 

 

 

 

 

(1,463

)

 

 

0.68

 

 

 

 

 

 

 

 

 

Cancelled

 

 

372,957

 

 

 

(372,957

)

 

 

0.69

 

 

 

 

 

 

 

 

 

Balance at December 31, 2013

 

 

1,848,367

 

 

 

2,723,573

 

 

 

0.71

 

 

 

7.7

 

 

$

138

 

Granted

 

 

(1,642,799

)

 

 

1,642,799

 

 

 

0.84

 

 

 

 

 

 

 

 

 

Exercised

 

 

—

 

 

 

(28,320

)

 

 

0.73

 

 

 

 

 

 

 

 

 

Cancelled

 

 

89,533

 

 

 

(89,533

)

 

 

0.74

 

 

 

 

 

 

 

 

 

Balance at December 31, 2014

 

 

295,101

 

 

 

4,248,519

 

 

 

0.76

 

 

 

7.7

 

 

$

8,343

 

Additional authorized

 

 

4,708,447

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

Granted

 

 

(1,975,673

)

 

 

1,975,673

 

 

 

5.03

 

 

 

 

 

 

 

 

 

Exercised

 

 

—

 

 

 

(31,427

)

 

 

0.76

 

 

 

 

 

 

 

 

 

Cancelled

 

 

139,093

 

 

 

(139,093

)

 

 

1.46

 

 

 

 

 

 

 

 

 

Balance at December 31, 2015

 

 

3,166,968

 

 

 

6,053,672

 

 

$

2.13

 

 

 

7.6

 

 

$

20,605

 

Vested and exercisable at December 31, 2014

 

 

 

 

 

 

2,379,076

 

 

$

0.72

 

 

 

6.8

 

 

$

4,764

 

Vested and expected to vest at December 31, 2014

 

 

 

 

 

 

3,777,913

 

 

$

0.78

 

 

 

7.5

 

 

$

7,452

 

Vested and exercisable at December 31, 2015

 

 

 

 

 

 

3,179,361

 

 

$

0.96

 

 

 

6.4

 

 

$

14,451

 

Vested and expected to vest at December 31, 2015

 

 

 

 

 

 

5,786,950

 

 

$

2.08

 

 

 

7.5

 

 

$

19,990

 

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

The fair value of employee stock options was estimated at the date of grant using a Black-Scholes option-pricing model with the following weighted-average assumptions:

 

 

 

Year Ended December 31,

 

 

 

2015

 

2014

 

2013

 

Expected term (in years)

 

 

5.9

 

 

5.7

 

 

6.2

 

Expected volatility (%)

 

 

68.7%

 

 

50.7%

 

 

52.4%

 

Risk-free interest rate (%)

 

 

1.8%

 

 

1.8%

 

 

1.2%

 

Expected dividend yield (%)

 

 

0.0%

 

 

0.0%

 

 

0.0%

 

 
Summary of Stock-Based Compensation Expense

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

 

 

 

Year Ended December 31,

 

 

 

2015

 

 

2014

 

 

2013

 

Research and development

 

$

262

 

 

$

85

 

 

$

29

 

Selling and marketing

 

 

50

 

 

 

15

 

 

 

9

 

General and administrative

 

 

754

 

 

 

218

 

 

 

181

 

Total stock-based compensation expense

 

$

1,066

 

 

$

318

 

 

$

219