Share-Based Payments

6 Months Ended

Oct. 31, 2020

Share-based Payment Arrangement [Abstract]

Share-Based Payments

Share-Based Payments

The Company has in place a 2010 Equity Incentive Plan and a 2008 Equity Incentive Plan. In general, these plans provide for stock-based compensation in the form of (i) Non-statutory Stock Options; (ii) Restricted Stock Awards; and (iii) Stock Appreciation Rights to the Company’s employees, directors and non-employees. The plans also provide for limits on the aggregate number of shares that may be granted, the term of grants and the strike price of option awards.

Stock-based compensation expense was recognized as follows (table in thousands):

	Three Months Ended October 31,				Six Months Ended October 31,
	2020		2019		2020		2019
General and administrative	$	10	$	39	$	57	$	171
Sales and marketing	49		27		97		49
Research and development	5		2		9		5
Cost of oncology services	21		9		42		(17)
Total stock-based compensation expense	$	85	$	77	$	205	$	208

Stock Option Grants

Black-Scholes assumptions used to calculate the fair value of options granted during the three and six months ended October 31, 2020 and 2019 were as follows:

	Three Months Ended October 31,		Six Months Ended October 31,
	2020	2019	2020	2019
Expected term in years	6	6	6	6
Risk-free interest rates	0.27%	1.57%	0.27%-0.39%	1.57%
Volatility	72.83%	71.11%	72.64%-72.83%	71.11%
Dividend yield	—%	—%	—%	—%

The weighted average fair value of stock options granted during the three months ended October 31, 2020 and 2019 was $7.05 and $3.32, respectively, and $7.29 and $3.32 for the six months ended October 31, 2020 and 2019, respectively.

The Company’s stock options activity for the six months ended October 31, 2020 was as follows:

	Directors and Employees	Non- Employees	Total	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value
Outstanding, April 30, 2020	2,228,326	43,332	2,271,658	$	3.23	5.0	$	10,663,000
Granted	60,000	—	60,000	7.29		9.84
Exercised	(640,657)	(1,160)	(641,817)	2.24
Forfeited	(5,500)	—	(5,500)	6.76
Canceled	(26,106)	(923)	(27,029)	4.00
Expired	—	(5,834)	(5,834)	10.80
Outstanding, October 31, 2020	1,616,063	35,415	1,651,478	3.71		5.83	$	8,641,000
Vested and expected to vest as of October 31, 2020	1,616,063	35,415	1,651,478	3.71		5.83	$	8,641,000
Exercisable as of October 31, 2020	1,303,396	9,584	1,312,980	3.15		5.12	$	7,660,000