Quarterly report pursuant to Section 13 or 15(d)

Common Stock (Tables)

v3.10.0.1
Common Stock (Tables)
9 Months Ended
Sep. 30, 2018
Equity [Abstract]  
Summary of Stock Options Activity

Stock option transactions and the number of stock options outstanding are summarized below:

 

 

 

Number of

 

 

Weighted

 

 

 

Optioned

 

 

Average

 

 

 

Common

 

 

Exercise

 

 

 

Shares

 

 

Price

 

Balance,  December 31, 2017

 

 

111,578

 

 

$

80.01

 

Granted

 

 

554,400

 

 

 

2.81

 

Forfeited

 

 

(393

)

 

 

160.79

 

Balance,  September 30, 2018

 

 

665,585

 

 

$

15.65

 

 

Summary of Fair Value of Each Stock Award for Employees and Directors

The fair value of each stock award for employees and directors is estimated on the grant date and for consultants at each reporting period, using the Black-Scholes option-pricing model based on the weighted-average assumptions noted in the following table:

 

 

 

Nine Months Ended

 

 

 

September 30,

 

 

 

2018

 

 

2017

 

Risk-free interest rates

 

 

2.93

%

 

 

1.95

%

Expected dividend yield

 

 

0

%

 

 

0

%

Expected life

 

 

5.68

 

 

 

6.00

 

Expected volatility

 

 

88.23

%

 

 

86.06

%

 

Summary of Share-Based Compensation Expense

The results for the periods set forth below included share-based compensation expense for stock options and restricted stock units in the following expense categories of the consolidated statements of loss (in thousands):

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

Research and development

 

$

70

 

 

$

43

 

 

$

190

 

 

$

43

 

General and administrative

 

$

140

 

 

 

109

 

 

 

398

 

 

 

109

 

Total stock-based compensation

 

$

210

 

 

$

152

 

 

$

588

 

 

$

152

 

 

Summary of Restricted Stock Unit Award Activity

The following table summarizes our restricted stock unit award activity during the nine months ended September 30, 2018:

 

 

 

 

 

 

 

Weighted

 

 

 

Number

 

 

Average

 

 

 

of

 

 

Grant Date

 

 

 

Shares

 

 

Fair Value

 

Balance,  December 31, 2017

 

 

21,066

 

 

$

38.87

 

Released

 

 

(5,340

)

 

 

55.62

 

Forfeited or expired

 

 

(570

)

 

 

97.03

 

Balance,  September 30, 2018

 

 

15,156

 

 

$

30.78

 

 

Summary of Outstanding Warrants

The following is a summary of outstanding warrants to purchase common stock at September 30, 2018:

 

 

 

Total

 

 

 

 

 

 

 

 

 

Outstanding

 

 

Exercise

 

 

 

 

 

and

 

 

price per

 

 

 

 

 

Exercisable

 

 

Share

 

 

Expiration Date

(1) Series A Warrants issued in July 2014 financing

 

 

25,272

 

 

 

440.00

 

 

July 2019

(2) Series B Warrants issued in July 2014 financing

 

 

6,093

 

 

 

440.00

 

 

July 2019

(3) Series A-1 Warrants issued in April 2015 financing

 

 

2,175

 

 

 

264.00

 

 

October 2020

(4) Warrants issued in September 2017 financing

 

 

8,224

 

 

 

34.96

 

 

March 2023

(5) Warrants issued in June 2018 financing

 

 

3,132,000

 

 

 

4.00

 

 

June 2023