Quarterly report pursuant to Section 13 or 15(d)

Employee Stock Purchase Plan and Stock-Based Compensation (Tables)

v3.10.0.1
Employee Stock Purchase Plan and Stock-Based Compensation (Tables)
 9 Months Ended
Sep. 30, 2018
Summary of Option Activity

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

 

 

 

Shares

Available for

Grant

 

 

Outstanding

Options

 

 

Weighted-

Average

Exercise Price

 

 

Weighted-

Average

Remaining

Contract Term

(Years)

 

 

Aggregate

Intrinsic Value

 

Balances at December 31, 2017

 

 

91,149

 

 

 

835,320

 

 

$

10.31

 

 

 

6.84

 

 

$

3,813

 

Increase in authorized shares

 

 

5,053,013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Granted

 

 

(2,570,848

)

 

 

2,570,848

 

 

$

13.15

 

 

 

 

 

 

 

 

 

Exercised

 

 

 

 

 

 

(19,691

)

 

$

6.67

 

 

 

 

 

 

 

 

 

Canceled

 

 

3,721

 

 

 

(3,721

)

 

$

13.58

 

 

 

 

 

 

 

 

 

Balances at September 30, 2018

 

 

2,577,035

 

 

 

3,382,756

 

 

 

 

 

 

8.43

 

 

$

8,434

 

Exercisable at September 30, 2018

 

 

 

 

 

 

650,197

 

 

 

 

 

 

 

5.80

 

 

$

3,486

 

Vested and expected to vest at September

   30, 2018

 

 

 

 

 

 

3,172,528

 

 

 

 

 

 

 

8.39

 

 

$

8,073

 

 
Schedule of Stock-Based Compensation Expense Recognized

Total stock-based compensation expense recognized was as follows:

 

 

 

Three Months Ended

September 30,

 

 

Nine Months Ended

September 30,

 

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

Research and development

 

$

65

 

 

$

19

 

 

$

160

 

 

$

91

 

General and administrative

 

 

256

 

 

 

574

 

 

 

642

 

 

 

1,035

 

Total

 

$

321

 

 

$

593

 

 

$

802

 

 

$

1,126

 

 
Summary of Restricted Stock Activity

A summary of the restricted stock shares issued under the Company’s Plan is as follows:

 

 

 

Shares

 

Balance as of December 31, 2017

 

 

2,374

 

Vested

 

 

(2,374

)

Balance as of September 30, 2018

 

 

–

 

 
Employee Stock Options  
Schedule of Warrants Valued Using Option Pricing Method

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:

 

 

 

Nine Months Ended

September 30,

 

 

 

2018

 

 

2017

 

Expected term (in years)

 

1.75-6.08

 

 

5.52-6.08

 

Expected volatility

 

48.86%-56.75%

 

 

56.52%-58.55%

 

Risk-free interest rate

 

2.72%-2.97%

 

 

1.89%-2.10%

 

Expected dividend

 

 

–

 

 

 

–