Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Payments (Tables)

v3.7.0.1
Stock-Based Payments (Tables)
 6 Months Ended
Jun. 30, 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 June 30, 2017 and changes during the six months ended June 30, 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

 

1,044,900

 

 

11.65

 

 

 

 

 

 

Exercised

 

(253,340)

 

 

2.82

 

 

 

 

 

 

Cancelled

 

(290,902)

 

 

5.94

 

 

 

 

 

 

Outstanding at June 30, 2017

 

3,044,093

 

$

8.57

 

8.5

 

$

22,880

 

Exercisable at June 30, 2017

 

786,794

 

$

4.52

 

7.3

 

$

9,105

 

Vested and expected to vest at June 30, 2017

 

3,044,093

 

$

8.57

 

8.5

 

$

22,880

 

 

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 six months ended June 30, 2017 is presented below:

 

 

 

 

 

 

 

 

 

    

 

    

Weighted

 

 

 

 

 

Average Grant

 

 

 

Shares

 

Date Fair Value

 

Unvested at December 31, 2016

 

4,885

 

$

0.98

 

Vested

 

(4,885)

 

 

0.98

 

Repurchased

 

 —

 

 

 —

 

Unvested at June 30, 2017

 

 —

 

$

 —

 

 

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 June 30, 

 

Six Months Ended June 30, 

 

 

 

2017

    

2016

    

2017

    

2016

 

    

Weighted-average risk-free interest rate

1.86

%  

1.54

%  

2.03

%  

1.44

%

 

Expected dividend yield

 -

%  

 -

%  

 -

%  

 -

%

 

Expected option term

5.72

 

6.08

 

6.00

 

6.08

 

 

Volatility

91.42

%  

85.56

%  

87.05

%  

85.53

%

 

 

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 June 30, 

 

Six Months Ended June 30, 

 

    

2017

    

2016

    

2017

    

2016

    

Research and development

    

$

448

    

$

929

    

$

778

    

$

1,489

 

General and administrative

 

 

708

 

 

219

 

 

1,262

 

 

321

 

Total stock-based compensation expense

 

$

1,156

 

$

1,148

 

$

2,040

 

$

1,810