Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

v3.19.3
Stockholders' Equity (Tables)
9 Months Ended
Sep. 30, 2019
Stockholders' Equity  
Schedule of share-based compensation expense recognized

The estimated grant-date fair value of the Company’s stock-based awards is amortized on a straight-line basis over the awards’ service periods. Stock-based compensation expense recognized was as follows (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30, 

 

Nine Months Ended September 30, 

 

 

    

2019

    

2018

    

2019

    

2018

    

Research and development

 

$

179

 

$

208

 

$

603

 

$

952

 

General and administrative

 

 

589

 

 

526

 

 

1,712

 

 

2,567

 

Total stock-based compensation

 

$

768

 

$

734

 

$

2,315

 

$

3,519

 

 

Summary of stock option activity

 

 

 

 

 

 

 

 

 

 

Options Outstanding

 

    

 

    

 

 

    

Weighted 

 

 

 

 

 

 

 

Average 

 

 

 

 

Weighted 

 

Remaining 

 

 

 

 

Average 

 

Contractual 

 

 

Number of 

 

Exercise 

 

Term 

 

 

Shares

 

Price

 

(in years)

Balance, December 31, 2018

 

8,265,207

 

$

3.99

 

6.99

Granted

 

1,033,000

 

 

1.10

 

 

Exercised

 

(30,225)

 

 

0.68

 

 

Forfeited/Cancelled

 

(1,589,561)

 

 

(5.00)

 

 

Balance, September 30, 2019

 

7,678,421

 

$

3.41

 

7.16

Vested or expected to vest at September 30, 2019

 

7,678,421

 

$

3.41

 

7.16

Exercisable at September 30, 2019

 

4,100,616

 

$

4.41

 

5.82

 

Schedule of weighted-average assumptions:

 

 

 

 

 

 

 

 

 

September 30, 

 

 

 

    

2019

    

2018

    

    

Expected term of options (in years)

 

6.1

 

5.8

 

 

Risk-free interest rate

 

1.9

%  

2.7

%  

 

Expected volatility

 

71.9

%  

74.9

%  

 

Dividend yield

 

 0

%  

 0

%  

 

 

Schedule of changes in the status of non-vested RSU

 

 

 

 

 

 

 

 

RSUs Outstanding

 

    

 

    

 

 

 

 

 

 

 

 

 

 

 

 

Weighted 

 

 

 

 

Average 

 

 

Number of 

 

Grant Date

 

 

Awards

 

Fair Value

Non-vested at December 31, 2018

 

1,255,000

 

$

0.65

Granted

 

330,000

 

 

0.89

Vested

 

(322,500)

 

 

0.65

Forfeited

 

(237,500)

 

 

0.65

Non-vested at September 30, 2019

 

1,025,000

 

$

0.73

 

Schedule of shares available to be granted under equity incentive plans

At September 30, 2019, the Company has the following shares available to be granted under its equity incentive plans:

 

 

 

 

 

 

    

 

    

Inducement 

 

 

2013 Plan

 

Plan

Available at December 31, 2018

 

2,603,983

 

144,125

Authorized

 

3,387,456

 

 —

Granted

 

(1,363,000)

 

 —

Forfeited/Cancelled

 

1,781,030

 

46,031

Available at September 30, 2019

 

6,409,469

 

190,156

 

Schedule of shares of common stock reserved/available

At September 30, 2019, the Company has reserved the following shares of common stock for issuance:

 

 

 

Stock options outstanding under 2013 Plan

    

7,368,577

Restricted stock units outstanding under 2013 Plan

 

1,025,000

Shares available for future grant under 2013 Plan

 

6,409,469

Stock options outstanding under Inducement Plan

 

309,844

Shares available for future grant under Inducement Plan

 

190,156

Employee stock purchase plan

 

225,806

Warrants outstanding

 

623,091

Total shares of common stock reserved for future issuance

 

16,151,943