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Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2017
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, 2016

 

 

2,168,391

 

 

 

6,127,291

 

 

$

2.60

 

 

 

7.3

 

 

$

7,800

 

Additional options authorized

 

 

1,743,247

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Granted

 

 

(2,042,487

)

 

 

2,042,487

 

 

 

5.04

 

 

 

 

 

 

 

 

 

Exercised

 

 

 

 

 

(559

)

 

 

3.00

 

 

 

 

 

 

 

 

 

Cancelled

 

 

7,361

 

 

 

(7,361

)

 

 

4.66

 

 

 

 

 

 

 

 

 

Balance at March 31, 2017

 

 

1,876,512

 

 

 

8,161,858

 

 

 

3.21

 

 

 

7.8

 

 

$

43,281

 

Vested and exercisable at March 31, 2017

 

 

 

 

 

 

3,906,790

 

 

$

1.77

 

 

 

6.3

 

 

$

26,345

 

Vested and expected to vest at March 31, 2017

 

 

 

 

 

 

7,800,566

 

 

$

3.15

 

 

 

7.7

 

 

$

41,818

 

 

Schedule of Weighted-Average Assumptions Used in Black-Scholes Option-Pricing Model to Estimate Fair Value of Employee Stock Option at Grant Date

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

 

 

 

Three Months Ended

March 31,

 

 

 

2017

 

 

2016

 

Expected term (in years)

 

 

6.0

 

 

 

6.0

 

Expected volatility%

 

 

67.1%

 

 

 

69.8%

 

Risk-free interest rate%

 

 

2.1%

 

 

 

1.5%

 

Expected dividend yield%

 

 

0.0%

 

 

 

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

March 31,

 

 

 

2017

 

 

2016

 

Research and development

 

$

165

 

 

$

121

 

Selling and marketing

 

 

51

 

 

 

24

 

General and administrative

 

 

553

 

 

 

411

 

Total stock-based compensation expense

 

$

769

 

 

$

556