Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Equity (Tables)

v3.5.0.2
Equity (Tables)
6 Months Ended
Jun. 30, 2016
Equity [Abstract]  
Summary of Stock Option Activity

A summary of the stock option activity under the Company’s plans for the six months ended June 30, 2016 is as follows:

 

 

 

Number of

 

 

Weighted average

 

 

 

shares

 

 

exercise price

 

Options outstanding at December 31, 2015

 

 

5,326,505

 

 

$

3.07

 

Options granted

 

 

2,372,527

 

 

 

6.77

 

Less:

 

 

 

 

 

 

 

 

Options exercised

 

 

2,003,597

 

 

 

0.92

 

Options canceled or expired

 

 

258,155

 

 

 

4.68

 

Options outstanding at June 30, 2016

 

 

5,437,280

 

 

 

4.17

 

Exercisable at June 30, 2016

 

 

1,512,503

 

 

 

2.32

 

 

Fair Value of Each Stock Option Award Granted

The fair value of each stock option award granted during the six months ended June 30, 2016 was estimated as of the grant date using a trinomial lattice model with the following weighted average assumptions:

 

 

Six Months Ended

June 30, 2016

 

Expected term (in years)

 

2.8 – 4.5

 

Risk-free interest rate (%)

 

 

1.1%

 

Expected volatility (%)

 

 

55%

 

Dividend yield (%)

 

 

0.0%

 

Weighted average fair value/share at grant date

 

$

2.57

 

 

Summary of Stock-Based Compensation Expense Recognized for Stock Options and Restricted Stock Included in Consolidated Statements of Operations

Stock based compensation expense recognized for stock options and restricted stock and included in the consolidated statements of operations was allocated as follows (in thousands): 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2016

 

 

2015

 

 

2016

 

 

2015

 

Research and development expense

 

$

372

 

 

$

123

 

 

$

363

 

 

$

178

 

General and administrative expense

 

 

1,188

 

 

 

385

 

 

 

1,985

 

 

 

635

 

Total stock based compensation expense

 

$

1,560

 

 

$

508

 

 

$

2,348

 

 

$

813

 

 

Summary of Warrant Activity

Common Stock Warrants

A summary of the warrant activity for the six months ended June 30, 2016 is as follows:

 

 

 

Number of

 

 

Weighted average

 

 

 

shares

 

 

exercise price

 

Warrants outstanding at December 31, 2015

 

 

650,000

 

 

$

1.48

 

Warrants granted

 

 

 

 

 

 

Less:

 

 

 

 

 

 

 

 

Warrants exercised

 

 

 

 

 

 

Warrants canceled or expired

 

 

 

 

 

 

Warrants outstanding at June 30, 2016

 

 

650,000

 

 

 

1.48

 

Exercisable at June 30, 2016

 

 

650,000

 

 

 

1.48