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Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Assumptions Used to Compute Share-Based Compensation Costs for Stock Options Granted

The assumptions used to compute the share-based compensation costs for the stock options granted during the years ended December 31, 2017, 2016, and 2015, respectively, using the Black-Scholes option pricing model, were as follows:

 

 

 

Year Ended December 31,

 

 

 

2017

 

 

2016

 

 

2015

 

Weighted average grant date fair value of

   stock options

 

 

—

 

 

$

1.40

 

 

$

3.08

 

Assumptions

 

 

—

 

 

 

 

 

 

 

 

 

Risk-free interest rate (weighted average)

 

 

—

 

 

 

1.1

%

 

 

1.1

%

Expected dividend yield

 

 

—

 

 

 

—

 

 

 

—

 

Weighted average expected life (years)

 

 

—

 

 

 

4.8

 

 

 

4.0

 

Volatility (weighted average)

 

 

—

 

 

 

74.3

%

 

 

83.5

%

Forfeiture rate

 

 

—

 

 

 

23.0

%

 

 

23.3

%

 
Assumptions Used Estimate Fair Value of Employee Stock Purchase Plans

Following is a schedule of the shares purchased, the fair value per share, and the Black-Scholes model assumptions for each offering period:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

September 30,

 

 

March 31,

 

 

September 30,

 

 

March 31,

 

 

September 30,

 

 

March 31,

 

Offering Period Ended

 

2017

 

 

2017

 

 

2016

 

 

2016

 

 

2015

 

 

2015

 

Shares purchased for offering

   period

 

 

2,000

 

 

 

2,002

 

 

 

3,536

 

 

 

3,498

 

 

 

3,113

 

 

 

2,804

 

Fair value per share

 

$

0.35

 

 

$

0.72

 

 

$

0.77

 

 

$

1.24

 

 

$

2.39

 

 

$

1.72

 

Assumptions

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk-free interest rate (average)

 

 

0.89

%

 

 

0.47

%

 

 

0.47

%

 

 

0.18

%

 

 

0.11

%

 

 

0.40

%

Expected dividend yield

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Weighted average expected life

   (years)

 

 

0.5

 

 

 

0.5

 

 

 

0.5

 

 

 

0.5

 

 

 

0.5

 

 

 

0.5

 

Volatility (average)

 

 

64.2

%

 

 

52.6

%

 

 

40.4

%

 

 

66.1

%

 

 

103.8

%

 

 

109.1

%

 
Non-Cash Stock-Based Compensation Expenses

Non-cash stock-based compensation expenses related to stock options, restricted stock grants and the ESPP were recorded in the financial statements as follows (in thousands):

 

 

 

Year Ended December 31,

 

 

 

2017

 

 

2016

 

 

2015

 

Cost of revenues

 

$

1

 

 

$

3

 

 

$

12

 

Selling and marketing

 

 

(23

)

 

 

277

 

 

 

335

 

Research and development

 

 

213

 

 

 

495

 

 

 

644

 

General and administrative

 

 

582

 

 

 

753

 

 

 

1,167

 

Restructuring expense

 

 

398

 

 

 

—

 

 

 

—

 

Total non-cash stock compensation expense

 

$

1,171

 

 

$

1,528

 

 

$

2,158

 

 
Summary of Outstanding Stock Options and Related Activity

A summary of the Company’s stock options outstanding under the 2015 OEIP and 2005 Plan as of December 31, 2017 and the activity during the years ended herein are as follows (in thousands except per share amounts):

 

 

 

 

 

 

 

Weighted Ave.

 

 

Aggregate

 

 

 

Shares

 

 

Exercise Price

 

 

Intrinsic Value

 

Outstanding as of December 31, 2014

 

 

534

 

 

$

21.16

 

 

$

—

 

(322 options exercisable at a weighted average

   exercise price of $32.16)

 

 

 

 

 

 

 

 

 

 

 

 

Granted (weighted average fair value of $3.08)

 

 

18

 

 

$

5.08

 

 

 

 

 

Exercised

 

 

(2

)

 

$

4.76

 

 

 

 

 

Cancelled

 

 

(139

)

 

$

16.20

 

 

 

 

 

Outstanding as of December 31, 2015

 

 

411

 

 

$

21.56

 

 

$

—

 

(1,291 options exercisable at a weighted average

   exercise price of $8.04)

 

 

 

 

 

 

 

 

 

 

 

 

Granted (weighted average fair value of $1.40)

 

 

33

 

 

$

2.36

 

 

 

 

 

Exercised

 

 

—

 

 

$

—

 

 

 

 

 

Cancelled

 

 

(71

)

 

$

8.04

 

 

 

 

 

Outstanding as of December 31, 2016

 

 

373

 

 

$

22.51

 

 

$

—

 

(307 options exercisable at a weighted average

   exercise price of $26.48)

 

 

 

 

 

 

 

 

 

 

 

 

Granted

 

 

—

 

 

$

—

 

 

 

 

 

Exercised

 

 

—

 

 

$

—

 

 

 

 

 

Cancelled

 

 

(234

)

 

$

32.54

 

 

 

 

 

Outstanding as of December 31, 2017

 

 

139

 

 

$

5.69

 

 

$

—

 

Exercisable as of December 31, 2017

 

 

116

 

 

$

6.16

 

 

$

—

 

Vested and expected to vest at December 31, 2017

 

 

123

 

 

$

4.48

 

 

$

—

 

 
Summary of Outstanding Restricted Stock Awards and Related Activity

A summary of the Company’s restricted stock awards outstanding under the 2015 OEIP and 2005 Plan as of December 31, 2017, and the activity during years ended therein, are as follows (in thousands):

 

 

 

 

 

 

 

Weighted average

 

 

 

Number

 

 

grant date

 

 

 

of shares

 

 

fair value

 

Unvested at December 31, 2014

 

 

431

 

 

$

7.64

 

Granted

 

 

343

 

 

$

6.00

 

Vested

 

 

(252

)

 

$

7.80

 

Cancelled and forfeited

 

 

(71

)

 

$

6.68

 

Unvested at December 31, 2015

 

 

451

 

 

$

6.44

 

Granted

 

 

375

 

 

$

2.70

 

Vested

 

 

(253

)

 

$

5.83

 

Cancelled and forfeited

 

 

(139

)

 

$

4.16

 

Unvested at December 31, 2016

 

 

434

 

 

$

4.30

 

Granted

 

 

88

 

 

$

1.11

 

Vested

 

 

(329

)

 

$

3.98

 

Cancelled and forfeited

 

 

(26

)

 

$

2.70

 

Unvested at December 31, 2017

 

 

167

 

 

$

3.49