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Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2018
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, 2017

 

 

969,783

 

 

 

8,592,747

 

 

$

3.69

 

 

 

7.4

 

 

$

47,864

 

Additional options authorized

 

 

2,706,158

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options granted

 

 

(182,244

)

 

 

182,244

 

 

 

8.16

 

 

 

 

 

 

 

 

 

Options exercised

 

 

 

 

 

(265,647

)

 

 

1.42

 

 

 

 

 

 

 

 

 

Options canceled

 

 

35,717

 

 

 

(35,717

)

 

 

5.62

 

 

 

 

 

 

 

 

 

Balance at March 31, 2018

 

 

3,529,414

 

 

 

8,473,627

 

 

$

3.85

 

 

 

7.4

 

 

$

22,906

 

Vested and exercisable at March 31, 2018

 

 

 

 

 

 

5,132,684

 

 

$

2.87

 

 

 

6.5

 

 

$

18,702

 

Vested and expected to vest at March 31, 2018

 

 

 

 

 

 

8,207,659

 

 

$

3.80

 

 

 

7.3

 

 

$

22,557

 

 

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,

 

 

 

2018

 

 

2017

 

Expected term (in years)

 

 

5.9

 

 

 

6.0

 

Expected volatility%

 

61.7%

 

 

67.1%

 

Risk-free interest rate%

 

2.6%

 

 

2.1%

 

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,

 

 

 

2018

 

 

2017

 

Research and development

 

$

203

 

 

$

165

 

Selling and marketing

 

 

127

 

 

 

51

 

General and administrative

 

 

860

 

 

 

553

 

Total stock-based compensation expense

 

$

1,190

 

 

$

769