Quarterly report pursuant to Section 13 or 15(d)

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

v3.19.2
Equity Incentive Plans, Employee Stock Purchase Plan and Stock-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 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

 

 

885,260

 

 

$

10.57

 

 

 

 

 

 

 

 

 

Exercised

 

 

(10,109

)

 

$

5.21

 

 

 

 

 

 

 

 

 

Canceled

 

 

(83,216

)

 

$

14.80

 

 

 

 

 

 

 

 

 

Balances at June 30, 2019

 

 

3,903,653

 

 

$

13.02

 

 

 

8.50

 

 

$

2,462

 
Summary of Status and Activity of Non-vested RSUs

A summary of the status and activity of non-vested RSUs at June 30, 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

 

 

(7,950

)

 

$

12.54

 

Non-vested June 30, 2019

 

 

458,190

 

 

$

13.84

 
Schedule of Fair Value of ESPP Shares Using Option Pricing Model For the six months ended June 30, 2019, the fair value of ESPP shares was estimated using the following assumptions:

 

 

Six Months Ended

June 30, 2019

 

Expected term (in years)

 

0.5

 

Expected volatility

 

 

74.41

%

Risk-free interest rate

 

 

2.09

%

Expected dividend

 

 

–

 

 
Schedule of Stock-Based Compensation Expense Recognized

Total stock-based compensation expense recognized was as follows:

 

 

 

Three Months Ended

June 30,

 

 

Six Months Ended

June 30,

 

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Research and development

 

$

442

 

 

$

47

 

 

$

853

 

 

$

95

 

General and administrative

 

 

2,021

 

 

 

185

 

 

 

3,896

 

 

 

386

 

Total

 

$

2,463

 

 

$

232

 

 

$

4,749

 

 

$

481

 
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:

 

 

 

Six Months Ended

June 30,

 

 

 

2019

 

 

2018

 

Expected term (in years)

 

5.03-7.01

 

 

6.0

 

Expected volatility

 

72.89%-74.89%

 

 

56.34%-56.44%

 

Risk-free interest rate

 

1.85%-2.55%

 

 

2.72-2.73%

 

Expected dividend

 

 

–

 

 

 

–