Annual report pursuant to Section 13 and 15(d)

Stock Based Compensation (Tables)

v2.4.1.9
Stock Based Compensation (Tables)
12 Months Ended
Dec. 31, 2014
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 End
December 31,
 
 
 
2014
 
2013
 
 
 
 
 
 
 
 
 
Research and Development
 
$
397
 
$
82
 
General and Administrative
 
 
1,576
 
 
244
 
Total
 
$
1,973
 
$
326
 
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, 2014:
 
 
 
Awards
Reserved
 
 
 
 
 
Awards
 
 
 
for
 
Awards
 
 
Available
 
 
 
Issuance
 
Issued
 
 
for Grant
 
2013 Equity Compensation Plan
 
 
8,250,000
 
 
5,646,067
*
 
 
2,603,933
 
 
* 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, 2013and 2014 (number of options in thousands):
 
 
 
Number of Options
 
Weighted
average
exercise
price
 
Weighted average
contractual term in
years
 
Outstanding at December 31, 2012
 
 
-
 
$
-
 
 
-
 
 
 
 
 
 
 
 
 
 
 
 
Granted
 
 
3,160
 
$
0.94
 
 
 
 
Exercised
 
 
-
 
 
 
 
 
 
 
Forfeited
 
 
-
 
 
 
 
 
 
 
Expired
 
 
-
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Outstanding at December 31, 2013
 
 
3,160
 
$
0.94
 
 
9.7
 
 
 
 
 
 
 
 
 
 
 
 
Granted
 
 
2,413
 
$
1.22
 
 
 
 
Exercised
 
 
-
 
 
 
 
 
 
 
Forfeited
 
 
(196)
 
 
 
 
 
 
 
Expired
 
 
(24)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Outstanding at December 31, 2014
 
 
5,353
 
$
1.06
 
 
9.1
 
 
 
 
 
Year ended December 31,
 
 
 
2014
 
2013
 
Options exercisable at end of year
 
 
2,460
 
 
321
 
Weighted average grant date fair value (per share) of options granted during the period
 
$
0.68
 
$
0.66
 
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,
 
 
 
2014
 
2013
 
Volatility
 
 
68.76
%
 
81.06
%
Risk-free interest rate
 
 
1.65% - 1.93
%
 
1.85% – 2.15
%
Dividend yield
 
 
0.0
%
 
0.0
%
Expected life
 
 
4.75 – 5.5 years
 
 
5.0 – 6.0 years