Quarterly report pursuant to Section 13 or 15(d)

Equity Incentive Plans, Employee Stock Purchase Plan and Stock-Based Compensation (Tables)

v3.19.1
Equity Incentive Plans, Employee Stock Purchase Plan and Stock-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2019
Summary of Option Activity

The following table summarizes option activity under the Company’s 2004 Plan and 2018 Plan:

 

 

 

Outstanding

Options

 

 

Weighted-

Average

Exercise Price

 

 

Weighted-

Average

Remaining

Contract Term

(Years)

 

 

Aggregate

Intrinsic Value

 

Balances at December 31, 2018

 

 

3,111,718

 

 

$

13.74

 

 

 

8.76

 

 

$

1,088

 

Granted

 

 

777,350

 

 

$

10.50

 

 

 

 

 

 

 

 

 

Exercised

 

 

(8,347

)

 

$

5.08

 

 

 

 

 

 

 

 

 

Canceled

 

 

(5,807

)

 

$

14.93

 

 

 

 

 

 

 

 

 

Balances at March 31, 2019

 

 

3,874,914

 

 

$

13.11

 

 

 

8.77

 

 

$

2,450

 
Summary of Status and Activity of Non-vested RSUs

A summary of the status and activity of non-vested RSUs at March 31, 2019 is as follows:

 

 

 

Number of shares

 

 

Weighted

Average

Grant-Date

Fair Value

 

Non-vested December 31,2018

 

 

311,240

 

 

$

15.20

 

Granted

 

 

154,900

 

 

$

11.45

 

Canceled

 

 

(1,240

)

 

$

14.14

 

Non-vested March 31,2019

 

 

464,900

 

 

$

13.82

 
Schedule of Fair Value of ESPP Shares Using Option Pricing Model For the three months ended March 31, 2019, the fair value of ESPP shares was estimated using the following assumptions:

 

 

Three Months Ended

March 31, 2019

 

Expected term (in years)

 

0.5

 

Expected volatility

 

 

74.89

%

Risk-free interest rate

 

 

2.44

%

Expected dividend

 

 

–

 

 
Schedule of Stock-Based Compensation Expense Recognized

Total stock-based compensation expense recognized was as follows:

 

 

 

Three Months Ended

March 31,

 

 

 

 

2019

 

 

2018

 

 

Research and development

 

$

411

 

 

$

48

 

 

General and administrative

 

 

1,875

 

 

 

201

 

 

Total

 

$

2,286

 

 

$

249

 

 
Employee Stock Options  
Schedule of Employee Stock Options Valuation

For determining stock-based compensation expense, the fair-value-based measurement of each employee stock option was estimated as of the date of grant using the Black-Scholes option-pricing model with assumptions as follows:

 

 

 

Three Months Ended

March 31,

 

 

 

2019

 

 

2018

 

Expected term (in years)

 

5.05-7.01

 

 

5.97-6.08

 

Expected volatility

 

72.89%-74.89%

 

 

 

58.00

%

Risk-free interest rate

 

2.40%-2.55%

 

 

2.72%-2.73%

 

Expected dividend

 

 

–

 

 

 

–