Common Stock (Tables)
|
12 Months Ended |
Dec. 31, 2017 |
|---|
| Equity [Abstract] |
|
| Summary of Fair Value of Option Awards |
The estimated fair value of stock options granted in the respective periods was determined using the Black-Scholes option pricing model using the following weighted average assumptions:
|
|
|
2017
|
|
|
|
Risk-free interest rates
|
|
|
1.95
|
%
|
|
|
Expected dividend yield
|
|
|
0
|
%
|
|
|
Expected life
|
|
6 years
|
|
|
|
Expected volatility
|
|
|
86.06
|
%
|
|
|
| Summary of Share-Based Compensation Expense |
The results for the periods set forth below included stock-based compensation expense in the following expense categories of the consolidated statements of loss (in thousands):
|
|
|
Year ended
|
|
|
|
December 31,
|
|
|
|
2017
|
|
|
|
Research and development
|
|
$
|
107
|
|
|
|
General and administrative
|
|
|
241
|
|
|
|
Total stock-based compensation
|
|
$
|
348
|
|
|
|
| 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, January 1, 2017
|
|
$
|
—
|
|
|
$
|
—
|
|
|
Additions from OncoGenex Plan
|
|
|
113,451
|
|
|
|
96.38
|
|
|
Granted
|
|
|
1,052,200
|
|
|
|
2.89
|
|
|
Expired
|
|
|
(19,543
|
)
|
|
|
114.53
|
|
|
Exercised
|
|
|
—
|
|
|
|
—
|
|
|
Forfeited
|
|
|
(30,461
|
)
|
|
|
92.72
|
|
|
Balance, December 31, 2017
|
|
|
1,115,647
|
|
|
$
|
7.99
|
|
|
| Summary of Stock Options Outstanding Regarding Number of Common Shares Issuable upon Exercise of Outstanding Options |
(1) Number of common shares issuable upon exercise of outstanding options:
|
|
|
|
|
|
|
|
|
|
|
Weighted-
|
|
|
|
|
|
|
|
|
|
|
|
|
Average
|
|
|
|
|
|
|
|
|
|
|
|
|
Remaining
|
|
|
|
|
|
|
|
|
Weighted-
|
|
|
Contractual
|
|
|
|
|
|
|
|
|
Average
|
|
|
Life
|
|
|
Exercise Prices
|
|
Number of Options
|
|
|
Exercise Price
|
|
|
(in years)
|
|
|
$2.89 - $6.95
|
|
|
1,052,200
|
|
|
$
|
2.89
|
|
|
|
9.58
|
|
|
$6.96 - $15.73
|
|
|
4,090
|
|
|
|
11.00
|
|
|
|
8.40
|
|
|
$15.74 - $20.63
|
|
|
17,983
|
|
|
|
20.46
|
|
|
|
7.38
|
|
|
$20.64 - $37.35
|
|
|
6,452
|
|
|
|
31.53
|
|
|
|
6.76
|
|
|
$37.36 - $128.64
|
|
|
2,451
|
|
|
|
84.08
|
|
|
|
5.75
|
|
|
$128.65 - $130.57
|
|
|
8,905
|
|
|
|
129.69
|
|
|
|
6.20
|
|
|
$130.58 - $134.81
|
|
|
6,450
|
|
|
|
131.45
|
|
|
|
5.19
|
|
|
$134.82 - $143.88
|
|
|
5,927
|
|
|
|
142.41
|
|
|
|
4.36
|
|
|
$143.89 - $185.85
|
|
|
7,019
|
|
|
|
172.70
|
|
|
|
3.01
|
|
|
$185.86 - $245.08
|
|
|
4,170
|
|
|
|
237.60
|
|
|
|
2.21
|
|
|
|
|
|
1,115,647
|
|
|
$
|
7.99
|
|
|
|
9.37
|
|
|
| Summary of Stock Options Outstanding Regarding Number of Common Shares Issuable upon Exercise of Vested Options |
(2) Number common shares issuable upon exercise of vested options:
|
|
|
|
|
|
|
|
|
|
|
Weighted-
|
|
|
|
|
|
|
|
|
|
|
|
|
Average
|
|
|
|
|
|
|
|
|
|
|
|
|
Remaining
|
|
|
|
|
|
|
|
|
Weighted-
|
|
|
Contractual
|
|
|
|
|
|
|
|
|
Average
|
|
|
Life
|
|
|
Exercise Prices
|
|
Number of Options
|
|
|
Exercise Price
|
|
|
(in years)
|
|
|
$2.89 - $6.95
|
|
|
3,644
|
|
|
$
|
2.89
|
|
|
|
9.58
|
|
|
$6.96 - $15.73
|
|
|
4,090
|
|
|
|
11.00
|
|
|
|
8.40
|
|
|
$15.74 - $20.63
|
|
|
14,883
|
|
|
|
20.46
|
|
|
|
7.38
|
|
|
$20.64 - $37.35
|
|
|
5,432
|
|
|
|
31.25
|
|
|
|
6.77
|
|
|
$37.36 - $128.64
|
|
|
2,451
|
|
|
|
84.08
|
|
|
|
5.75
|
|
|
$128.65 - $130.57
|
|
|
8,758
|
|
|
|
129.69
|
|
|
|
6.20
|
|
|
$130.58 - $134.81
|
|
|
6,450
|
|
|
|
131.45
|
|
|
|
5.19
|
|
|
$134.82 - $143.88
|
|
|
5,927
|
|
|
|
142.41
|
|
|
|
4.36
|
|
|
$143.89 - $185.85
|
|
|
7,019
|
|
|
|
172.70
|
|
|
|
3.01
|
|
|
$185.86 - $245.08
|
|
|
4,170
|
|
|
|
237.60
|
|
|
|
2.21
|
|
|
|
|
|
62,824
|
|
|
$
|
91.79
|
|
|
|
5.95
|
|
|
| Summary of Restricted Stock Unit Award Activity |
The following table summarizes our restricted stock unit award activity during the year ended December 31, 2017:
|
|
|
|
|
|
|
Weighted
|
|
|
|
|
Number
|
|
|
Average
|
|
|
|
|
of
|
|
|
Grant Date
|
|
|
|
|
Shares
|
|
|
Fair Value
|
|
|
Balance, January 1, 2017
|
|
|
-
|
|
|
$
|
-
|
|
|
Additions from OncoGenex Plans
|
|
|
10,527
|
|
|
|
41.12
|
|
|
Granted
|
|
|
205,100
|
|
|
|
2.89
|
|
|
Released
|
|
|
(5,464
|
)
|
|
|
44.25
|
|
|
Forfeited or expired
|
|
|
(3
|
)
|
|
|
25.37
|
|
|
Balance, December 31, 2017
|
|
|
210,160
|
|
|
$
|
3.73
|
|
|
| Summary of Outstanding Warrants |
The following is a summary of outstanding warrants to purchase common stock at December 31, 2017:
|
|
|
Total
|
|
|
|
|
|
|
|
|
|
|
Outstanding
|
|
|
Exercise
|
|
|
|
|
|
|
and
|
|
|
price per
|
|
|
|
|
|
|
Exercisable
|
|
|
Share
|
|
|
Expiration Date
|
|
(1) Series A Warrants issued in July 2014 financing
|
|
|
252,721
|
|
|
|
44.000
|
|
|
July 2019
|
|
(2) Series B Warrants issued in July 2014 financing
|
|
|
60,933
|
|
|
|
44.000
|
|
|
July 2019
|
|
(3) Series A-1 Warrants issued in April 2015 financing
|
|
|
21,748
|
|
|
|
26.400
|
|
|
October 2020
|
|
(4) Warrants issued in September 2017 financing
|
|
|
82,237
|
|
|
|
3.496
|
|
|
March 2023
|
|
| Summary of Fair Value of Warrants Issued |
|
|
|
As of
|
|
|
|
|
December 31,
|
|
|
Series A and Series B Warrant Valuation Assumptions
|
|
2017
|
|
|
2016
|
|
|
Risk-free interest rates
|
|
|
1.82
|
%
|
|
|
—
|
|
|
Expected dividend yield
|
|
|
0
|
%
|
|
|
—
|
|
|
Expected life
|
|
1.50 years
|
|
|
|
—
|
|
|
Expected volatility
|
|
|
86
|
%
|
|
|
—
|
|
|
| Computation of Basic and Diluted Net Loss Attributable to Common Shareholders Per Share |
The following table presents the computation of basic and diluted net loss attributable to common stockholders per share (in thousands, except per share and share amounts):
|
|
|
Years ended December 31,
|
|
|
|
|
2017
|
|
|
2016
|
|
|
2015
|
|
|
Numerator
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss
|
|
$
|
(10,583
|
)
|
|
$
|
(1,234
|
)
|
|
$
|
(828
|
)
|
|
Denominator
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number of common shares outstanding
|
|
|
4,794,421
|
|
|
|
21,230
|
|
|
|
21,230
|
|
|
Basic and diluted net loss per common share
|
|
$
|
(2.21
|
)
|
|
$
|
(58.13
|
)
|
|
$
|
(39.00
|
)
|
|