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Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2020
Share-based Payment Arrangement [Abstract]  
Schedule of Valuation Assumptions
The fair value of each option award is estimated on the date of grant using the Black-Scholes option-pricing formula that uses assumptions noted in the following table. Expected volatilities and risk-free interest rates are based upon the expected life of the grant.
Three Months Ended March 31,
Assumptions20202019
Expected dividends—  —  
Risk-free rate0.85% - 1.60%  2.47 %
Expected volatility78.56% - 79.58%57.8%-60.2%
Expected term (in years)3.2-3.3 years3.2-3.3 years
Schedule of Stock Option Activity A summary of option activity under the 1999 Director Stock Option Plan, 2009 Equity Incentive Plan, and the 2016 Equity Incentive Plan as of March 31, 2020 and changes during the period are presented below:
Number of
Options
Weighted Average
Exercise Price
Outstanding as of January 1, 20205,167,739  $3.34  
Issued3,049,178  0.41  
Exercised—  —  
Forfeited(66,588) 2.17  
Expired(68,948) 4.81  
Outstanding as of March 31, 20208,081,381  $2.23  
Exercisable as of March 31, 20203,562,724  $4.06  
Schedule of Stock Options Outstanding and Exercisable
The following tables summarize information regarding options outstanding and exercisable at March 31, 2020:
 
Outstanding:
Stock
Options
Weighted
Average
Weighted
Average
Remaining
Range of Exercise PricesOutstandingExercise PriceContractual Life
$0.00 - $0.783,228,583  $0.42  9.85
$0.79 - $1.501,745,369  1.03  4.31
$1.51 - $5.501,835,130  2.30  7.99
$5.51 - $10.671,272,299  7.69  5.98
Total8,081,381  $2.23  7.57


Exercisable: 
Range of Exercise PricesStock Options ExercisableWeighted Average Exercise Price
$0.79 - $1.501,370,748  $1.06  
$1.51 - $5.50934,052  2.56  
$5.51 - $10.671,257,924  8.45  
Total3,562,724  $4.06  
Schedule of Nonvested Restricted Stock Units Activity The following table summarizes the number of unvested RSUs and their weighted average exercise price for the three months ended March 31, 2020.
Number of RSUsWeighted Average Grant Date Fair Value
Non-vested balance at January 1, 202062,680  $4.07  
Changes during the period:
Shares granted—  —  
Shares vested(49,068) 4.36  
Shares forfeited—  —  
Non-vested balance at March 31, 202013,612  $3.03