Annual report pursuant to Section 13 and 15(d)

Stock Based Compensation (Tables)

v3.3.1.900
Stock Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]
The Company recognized stock-based compensation expense (options, and restricted share grants) in its consolidated statements of operations as follows ($ in thousands):
 
 
 
Year Ended
 
 
 
December 31,
 
 
 
2015
 
2014
 
 
 
 
 
 
 
Research and Development
 
$
528
 
$
398
 
General and Administrative
 
 
1,064
 
 
1,576
 
Total
 
$
1,592
 
$
1,974
 
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]
The following table contains information about the Company’s stock plan at December 31, 2015:
 
 
 
Awards
 
 
 
 
 
 
 
 
Reserved
 
 
 
 
Awards
 
 
 
for
 
Awards
 
 
Available
 
 
 
Issuance
 
Issued
 
 
for Grant
 
2013 Equity Compensation Plan
 
 
9,541,706
 
 
7,474,434
*
 
 
2,067,272
 
 
* includes both stock grants and option grants
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]
The following table summarizes the Company’ stock option activity and related information for the years ended December 31, 2014 and 2015 (number of options in thousands):
 
 
 
 
 
Weighted
 
 
 
 
 
 
 
average
 
Weighted average
 
 
 
Number of
 
exercise
 
contractual term in
 
 
 
Options
 
price
 
years
 
Outstanding at December 31, 2013
 
 
3,160
 
$
0.94
 
 
9.7
 
 
 
 
 
 
 
 
 
 
 
 
Granted
 
 
2,413
 
$
1.22
 
 
 
 
Exercised
 
 
-
 
 
 
 
 
 
 
Forfeited
 
 
(196)
 
 
0.94
 
 
 
 
Expired
 
 
(24)
 
 
0.96
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Outstanding at December 31, 2014
 
 
5,353
 
$
1.06
 
 
9.1
 
 
 
 
 
 
 
 
 
 
 
 
Granted
 
 
1,960
 
$
0.56
 
 
 
 
Exercised
 
 
-
 
 
 
 
 
 
 
Forfeited
 
 
(217)
 
 
0.95
 
 
 
 
Expired
 
 
(193)
 
 
0.89
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Outstanding at December 31, 2015
 
 
6,903
 
$
0.93
 
 
8.4
 
 
 
 
Year ended December 31,
 
 
 
2015
 
2014
 
Options exercisable at end of year
 
 
3,752
 
 
2,460
 
Weighted average grant date fair value (per share) of options granted during the period
 
$
0.65
 
$
0.68
 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
The following weighted-average assumptions were used to calculate share based compensation for the full year ended:
 
 
 
For the year  ended
 
 
 
December 31,
 
 
 
2015
 
2014
 
Volatility
 
 
71.10 % - 102.3
%
 
68.76
%
Risk-free interest rate
 
 
1.34% - 1.74
%
 
1.65% - 1.93
%
Dividend yield
 
 
0.0
%
 
0.0
%
Expected life
 
 
6.0 years
 
 
4.75 – 5.5 years