Annual report pursuant to Section 13 and 15(d)

Stockholders' Equity (Tables)

v3.20.4
Stockholders' Equity (Tables)
12 Months Ended
Dec. 31, 2020
Stockholders' Equity  
Schedule of share-based compensation expense recognized

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

Year Ended December 31, 

    

2020

    

2019

Research and development

$

781

$

825

General and administrative

 

2,497

 

2,407

Cost of goods sold

6

Total stock-based compensation

$

3,284

$

3,232

Summary of stock option activity

Options Outstanding

    

    

    

Weighted 

Average 

Weighted 

Remaining 

Average 

Contractual 

Number of 

Exercise 

Term 

Shares

Price

(in years)

Balance, January 1, 2019

 

8,265,207

$

3.99

 

6.99

Granted

 

1,033,000

 

1.10

Exercised

 

(41,968)

 

0.68

Forfeited/Cancelled

 

(1,687,935)

 

(4.94)

Balance, December 31, 2019

 

7,568,304

$

3.40

 

7.01

Granted

 

2,477,486

 

1.90

Exercised

 

(197,640)

 

0.68

Forfeited/Cancelled

 

(283,631)

 

(3.33)

Balance, December 31, 2020

 

9,564,519

$

3.07

 

7.17

Vested or expected to vest at December 31, 2020

 

9,564,519

$

3.07

 

7.17

Exercisable at December 31, 2020

 

5,536,713

$

3.88

 

5.94

Schedule of weighted-average assumptions:

Year Ended December 31, 

    

2020

    

2019

    

Expected term of options (in years)

 

6.1

 

6.1

 

Risk-free interest rate

 

0.6

%  

1.9

%  

Expected volatility

 

97.3

%  

98.9

%  

Dividend yield

 

%  

%  

Schedule of changes in the status of non-vested RSU

    

    

Weighted 

Average 

Number of 

Grant Date

Awards

Fair Value

Non-vested at January 1, 2019

 

1,255,000

$

0.65

Granted

 

2,500,585

 

0.74

Vested

 

(572,500)

 

0.65

Forfeited/Cancelled

 

(237,500)

 

0.65

Non-vested at December 31, 2019

 

2,945,585

$

0.73

Granted

 

2,536,850

 

2.11

Vested

 

(1,519,493)

 

0.71

Forfeited

 

(191,600)

 

0.69

Non-vested at December 31, 2020

 

3,771,342

$

1.66

Schedule of shares available to be granted under equity incentive plans

At December 31, 2020, the Company has the following shares available to be granted:

    

    

Inducement 

2013 Plan

Plan

Available at December 31, 2019

 

4,394,301

 

205,000

Authorized

 

3,768,550

Granted

 

(5,014,336)

Shares withheld for taxes not issued

477,255

Forfeited/Cancelled

 

427,731

47,500

Available at December 31, 2020

 

4,053,501

 

252,500

Schedule of shares of common stock reserved/available

At December 31, 2020, the Company has reserved the following shares of common stock for issuance:

Stock options outstanding under 2013 Plan

    

9,317,019

Restricted stock units outstanding under 2013 Plan

 

3,771,342

Shares reserved for future issuance under 2013 Plan

 

4,053,501

Stock options outstanding under Inducement Plan

 

247,500

Shares reserved for future issuance under Inducement Plan

252,500

Shares reserved for future issuance under 2013 Employee Stock Purchase Plan

 

225,806

Warrants outstanding

 

295,591

Total shares of common stock reserved for future issuance

 

18,163,259