Quarterly report pursuant to Section 13 or 15(d)

Common Stock (Tables)

v3.19.3
Common Stock (Tables)
9 Months Ended
Sep. 30, 2019
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, 2018

 

 

665,585

 

 

$

15.65

 

Granted

 

 

345,350

 

 

 

1.73

 

Balance,  September 30, 2019

 

 

1,010,935

 

 

$

10.90

 

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,

 

 

 

2019

 

 

2018

 

Risk-free interest rates

 

 

2.52

%

 

 

2.93

%

Expected dividend yield

 

 

0

%

 

 

0

%

Expected life

 

 

5.97

 

 

 

5.68

 

Expected volatility

 

 

94.25

%

 

 

88.23

%

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,

 

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Research and development

 

$

89

 

 

$

70

 

 

$

275

 

 

$

190

 

General and administrative

 

$

221

 

 

 

140

 

 

 

642

 

 

 

398

 

Total stock-based compensation

 

$

310

 

 

$

210

 

 

$

917

 

 

$

588

 

 

Summary of Restricted Stock Unit Award Activity

The following table summarizes our restricted stock unit award activity during the nine months ended September 30, 2019:

 

 

 

 

 

 

 

Weighted

 

 

 

Number

 

 

Average

 

 

 

of

 

 

Grant Date

 

 

 

Shares

 

 

Fair Value

 

Balance,  December 31, 2018

 

 

15,142

 

 

$

30.53

 

Released

 

 

(5,134

)

 

 

33.54

 

Balance,  September 30, 2019

 

 

10,008

 

 

$

28.99

 

Summary of Outstanding Warrants

The following is a summary of outstanding warrants to purchase common stock at September 30, 2019:

 

 

 

Total

 

 

 

 

 

 

 

 

 

Outstanding

 

 

Exercise

 

 

 

 

 

and

 

 

price per

 

 

 

 

 

Exercisable

 

 

Share

 

 

Expiration Date

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

 

 

2,175

 

 

 

264.0000

 

 

October 2020

(2) Warrants issued in September 2017 financing

 

 

8,224

 

 

 

34.9600

 

 

March 2023

(3) Warrants issued in June 2018 financing

 

 

2,282,000

 

 

 

4.0000

 

 

June 2023

(4) Warrants issued in October 2018 financing

 

 

624,313

 

 

 

3.1445

 

 

October 2023

(5) Warrants issued in May 2019

 

 

1,200,000

 

 

 

4.5000

 

 

May 2025