Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.8.0.1
Stock-Based Compensation (Tables)
 9 Months Ended
Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of employee and nonemployee stock option activity
A summary of employee and non-employee stock option activity for the nine months ended September 30, 2017 is as follows:
 
Options Outstanding
 
Weighted-
Average
Remaining
Contractual
Term (in years)
 
Aggregate
Intrinsic
Value
(in thousands)
 
Number of
Shares
(in thousands)
 
Weighted-
Average
Exercise
Price
 
Outstanding January 1, 2017
2,198

 
$
9.09

 
7.04
 
$
—

Granted
860

 
2.87

 
 
 
 
Exercised
(3
)
 
2.23

 
 
 
 
Cancelled or expired
(239
)
 
10.80

 
 
 
 
Outstanding September 30, 2017
2,816

 
$
7.05

 
7.19
 
$
367

Exercisable September 30, 2017
1,533

 
$
9.54

 
5.69
 
$
76

Weighted-average assumptions used to estimate fair value of options granted
The following table presents the weighted-average assumptions used to estimate the fair value of options granted to employees during the periods presented:
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2017
 
2016
 
2017
 
2016
Volatility
75.28
%
 
74.30
%
 
74.60
%
 
74.30
%
Risk free interest rate
1.92
%
 
1.17
%
 
1.97
%
 
1.17
%
Dividend yield
0.00
%
 
0.00
%
 
0.00
%
 
0.00
%
Term (years)
5.73

 
5.92

 
5.90

 
5.92

Weighted-average fair value of options granted during the period
1.91

 
1.30

 
1.89

 
1.30

The following table presents the weighted-average assumptions used to estimate the fair value of options reaching their measurement date for non-employees during the periods presented:
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2017
 
2016
 
2017
 
2016
Volatility
74.39
%
 
72.97
%
 
76.06
%
 
74.50
%
Risk free interest rate
2.17
%
 
1.46
%
 
2.19
%
 
1.43
%
Dividend yield
0.00
%
 
0.00
%
 
0.00
%
 
0.00
%
Term (years)
6.64

 
7.64

 
6.89

 
7.89

Nonvested restricted stock shares activity
The following table summarizes the activities for our non-vested restricted stock awards for the nine months ended September 30, 2017:
 
Non-vested Restricted Stock Awards
 
Number of
Shares
(in thousands)
 
Weighted-Average Grant Date Fair Value
Non-vested at January 1, 2017
80

 
$
6.30

Granted
65

 
3.29

Vested
(30
)
 
8.30

Non-vested at September 30, 2017
115

 
$
4.09

Effects of stock-based compensation related to stock option and restricted stock awards
The following table presents the effects of stock-based compensation related to stock option and restricted stock awards to employees and non-employees on our Consolidated Statements of Operations during the periods presented (in thousands):
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2017
 
2016
 
2017
 
2016
Cost of revenues
$
122

 
$
83

 
$
250

 
$
219

Research and development
11

 
45

 
110

 
140

General and administrative
356

 
356

 
949

 
1,095

Sales and marketing
30

 
30

 
86

 
84

Total stock-based compensation
$
519

 
$
514

 
$
1,395

 
$
1,538