Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Payments (Tables)

v3.7.0.1
Stock-Based Payments (Tables)
3 Months Ended
Mar. 31, 2017
Stock-Based Payments  
Summary of status of stock options and changes during the period

A summary of the status of stock options as of December 31, 2016 and March 31, 2017 and changes during the three months ended March 31, 2017 is presented below:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

 

    

 

 

    

 

    

Aggregate

 

 

 

 

 

Weighted

 

Remaining

 

Intrinsic

 

 

 

 

 

Average

 

Contractual

 

Value

 

 

 

Shares

 

Exercise Price

 

Life (in years)

 

(in thousands)

 

Outstanding at December 31, 2016

 

2,543,435

 

$

6.44

 

8.3

 

$

14,898

 

Granted

 

864,000

 

 

10.91

 

 

 

 

 

 

Exercised

 

(50,508)

 

 

2.78

 

 

 

 

 

 

Cancelled

 

(198,369)

 

 

5.17

 

 

 

 

 

 

Outstanding at March 31, 2017

 

3,158,558

 

$

7.81

 

8.2

 

$

25,554

 

Exercisable at March 31, 2017

 

908,893

 

$

3.74

 

6.0

 

$

11,082

 

Vested and expected to vest at March 31, 2017

 

3,158,558

 

$

7.81

 

8.2

 

$

25,554

 

 

Summary of status of unvested restricted common stock and changes during the period

A summary of the status of unvested restricted common stock as of December 31, 2016 and changes during the three months ended March 31, 2017 is presented below:

 

 

 

 

 

 

 

 

 

    

 

    

Weighted

 

 

 

 

 

Average Grant

 

 

 

Shares

 

Date Fair Value

 

Unvested at December 31, 2016

 

4,885

 

$

0.98

 

Vested

 

(1,332)

 

 

0.98

 

Repurchased

 

 —

 

 

 —

 

Unvested at March 31, 2017

 

3,553

 

$

0.98

 

 

Schedule of weighted-average assumptions used in Black-Scholes option-pricing model

The fair value of each stock option granted was estimated on the date of grant using the Black-Scholes option-pricing model based on the following weighted-average assumptions:

 

 

 

 

 

 

 

 

Three Months Ended March 31, 

 

 

 

2017

    

2016

 

    

Weighted-average risk-free interest rate

2.07

%  

1.39

%

 

Expected dividend yield

 -

%  

 -

%

 

Expected option term

6.07

 

6.08

 

 

Volatility

86.14

%  

85.52

%

 

 

Summary of stock-based compensation expense for stock options and restricted common stock

The following table summarizes the stock-based compensation expense for stock options and restricted common stock granted to employees and non-employees recorded in the Company’s statements of operations:

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended March 31, 

 

    

2017

    

2016

    

Research and development

    

$

330

    

$

560

 

General and administrative

 

 

554

 

 

102

 

Total stock-based compensation expense

 

$

884

 

$

662