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Stock Award Plans (Tables)
12 Months Ended
Dec. 31, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Stock Based Award Plans

The following table summarizes information about the Company’s stock-based award plans as of December 31, 2018:

 

 

 

Outstanding

Options

 

 

Outstanding

Restricted

Stock Units

 

 

Shares Available

for Future

Issuance

 

2004 Equity Incentive Plan

 

 

933,402

 

 

 

 

 

 

 

2013 Equity Incentive Plan

 

 

5,766,448

 

 

 

691,266

 

 

 

 

2018 Equity Incentive Plan

 

 

4,225,603

 

 

 

 

 

 

9,211,379

 

2004 Non-Employee Directors’ Stock Option Plan

 

 

50,665

 

 

 

 

 

 

 

Total

 

 

10,976,118

 

 

 

691,266

 

 

 

9,211,379

 

Stock Based Compensation Expense Recognized in Accompanying Consolidated Statements of Operations by Category

Total stock-based compensation expense recognized in the accompanying consolidated statements of operations is included in the following categories (in thousands):

 

 

 

Year Ended December 31,

 

 

 

2018

 

 

2017

 

 

2016

 

Cost of goods sold

 

$

379

 

 

$

460

 

 

$

695

 

Research and development

 

 

1,203

 

 

 

1,010

 

 

 

1,309

 

Selling, general and administrative

 

 

5,275

 

 

 

3,377

 

 

 

3,131

 

Total

 

$

6,857

 

 

$

4,847

 

 

$

5,135

 

Assumptions Used to Calculate Fair Value of Employee Stock Options The Company calculated the fair value of employee stock options granted during the years ended December 31, 2018, 2017 and 2016 using the following assumptions:

 

 

 

Year Ended December 31,

 

 

 

2018

 

 

2017

 

 

2016

 

Risk-free interest rate

 

2.63% — 3.11%

 

 

1.83% — 2.13%

 

 

1.18% — 1.80%

 

Expected lives

 

5.90 — 7.19 years

 

 

5.41 — 5.78 years

 

 

5.13 — 5.82 years

 

Volatility

 

92.68% — 93.62%

 

 

83.32% — 90.39%

 

 

77.57% — 82.75%

 

Dividends

 

 

 

 

 

 

 

 

 

 

Summary of Stock Options Outstanding

The following table summarizes information about stock options outstanding:

 

 

 

Number of

Shares

 

 

Weighted

Average Exercise

Price per Share

 

 

Aggregate

Intrinsic

Value ($000)

 

Outstanding at January 1, 2018

 

 

7,089,440

 

 

$

9.33

 

 

 

 

 

Granted

 

 

5,158,648

 

 

$

1.94

 

 

 

 

 

Exercised

 

 

(6,880

)

 

$

1.10

 

 

 

 

 

Forfeited

 

 

(733,536

)

 

 

2.87

 

 

 

 

 

Expired

 

 

(531,554

)

 

$

20.56

 

 

 

 

 

Outstanding at December 31, 2018

 

 

10,976,118

 

 

$

5.75

 

 

$

 

Exercisable at December 31, 2018

 

 

3,672,480

 

 

$

13.03

 

 

$

 

 

Summary of Restricted Stock Unit Activity

A summary of restricted stock unit activity for the year ended December 31, 2018 is presented below:

 

 

 

Number of

Shares

 

 

Weighted

Average

Grant Date

Fair Value

per Share

 

Outstanding at January 1, 2018

 

 

1,135,216

 

 

$

4.08

 

Granted

 

 

448,600

 

 

 

2.02

 

Vested

 

 

(694,831

)

 

 

3.47

 

Forfeited

 

 

(197,719

)

 

 

2.84

 

Outstanding at December 31, 2018

 

 

691,266

 

 

$

3.71