Annual report pursuant to Section 13 and 15(d)

Stock Based Compensation (Tables)

v3.8.0.1
Stock Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Stock-Based Compensation Expense

The Company recognized stock-based compensation expense (options, and restricted share grants) in its consolidated statements of operations as follows:

 

   

Year Ended December 31,

($ in thousands)

  
    2017     2016     2015  
                   
Research and Development   $ 1,016     $ 554     $ 528  
General and Administrative     2,581       965       1,064  
Total   $ 3,597     $ 1,519     $ 1,592  

Schedule of Equity Compensation Plan by Arrangements

The following table contains information about the Company’s stock plan at December 31, 2017:

 

    Awards              
    Reserved           Awards  
    for     Awards     Available  
    Issuance     Issued     for Grant  
2013 Equity Compensation Plan (in thousands)     14,155       12,627 *     1,528  
                         

 

* includes both stock grants and option grants
Schedule of Stock Option Activity

The following table summarizes the Company’ stock option activity and related information for the period from January 1, 2015 to December 31, 2017 (options in thousands):

 

          Weighted     Weighted Average  
    Number of     Average     Contractual Term  
    Options     Exercise Price     In Years  
Outstanding at January 1, 2015     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  
Granted     1,631       0.41          
Exercised     -       -          
Forfeited     (180 )     0.66          
Cancelled     (64 )     0.94          
Expired     -       -          
Outstanding at December 31, 2016     8,290     $ 0.85       7.3  
Granted     3,568     $ 2.77          
Exercised     -       -          
Forfeited     (436 )   $ 2.37          
Cancelled     (26 )     0.63          
Expired     -       -          
Outstanding at December 31, 2017     11,396     $ 1.40       7.8  

Schedule of Outstanding Options Exercise Price

The following table summarizes outstanding options at December 31, 2017, by their exercise price:

 

Options Outstanding

 

Range of Exercise Prices   Number Outstanding     Weighted Average Exercise Price Per Share  
$0.41 - $0.85     3,059     $ 0.49  
$0.94 - $1.28     5,081       1.08  
$1.31 - $3.32     3,256       2.74  
      11,396     $ 1.40  

Schedule of Share Based Payment Assumptions

The following weighted-average assumptions were used to calculate share based compensation:

 

    For the Year Ended
December 31, 		       
    2017     2016     2015  
Volatility     67.8%-109.63 %     44.72%-89.15 %     71.1%-102.3 %
Risk-free interest rate     1.89%-2.37 %     1.14%-2.09 %     1.34%-1.74 %
Dividend yield     0.0 %     0.0 %     0.0 %
Expected life     6.0 years         6.0 years         6.0 years