Annual report pursuant to Section 13 and 15(d)

Stockholders' Equity (Tables)

v3.7.0.1
Stockholders' Equity (Tables)
12 Months Ended
Dec. 31, 2016
Stockholders' Equity Note [Abstract]  
Schedule of shares of common stock reserved for issuance
The Company had reserved the following shares of common stock for issuance as of December 31, 2016:
 
Warrants to purchase common stock
   
356,193
 
Options:
       
Outstanding under the 2012 Equity Incentive Plan
   
1,826,548
 
Outstanding under the 2001 Equity Incentive Plan
   
9,287
 
Available for future grants under the 2012 Equity Incentive Plan
   
1,980,201
 
Total common stock reserved for future issuance
   
4,172,229
 
Summary of stock option activity
The following table summarizes stock option activity for the year ended December 31, 2016:
 

                         
               
Weighted-
       
         
Weighted-
   
Average
       
         
Average
   
Remaining
       
         
Exercise
   
Contractual
   
Aggregate
 
   
Number of
   
Price
   
Term
   
Intrinsic Value
 
   
Shares
   
(Per Share)(1)
   
(in years)
   
(in thousands)(2)
 
Balances at December 31, 2014
   
334,686
   
$
34.00
             
Options granted
   
321,020
     
3.46
             
Options forfeited
   
(176,764
)
   
17.58
             
Options expired
   
(13,541
)
   
24.32
             
Options exercised
   
     
             
Balances at December 31, 2015
   
465,401
   
$
19.29
             
Options granted
   
1,778,022
     
3.38
             
Options forfeited
   
(3,416
)
   
5.86
             
Options expired
   
(398,547
)
   
18.38
             
Options exercised
   
(5,625
)
   
1.77
             
Balances at December 31, 2016
   
1,835,835
    $
4.15
     
9.50
   
$
947,896
 
As of December 31, 2016:
                               
Options vested and expected to vest
   
1,829,593
    $
4.15
     
9.50
   
$
944,673
 
Exercisable
   
287,041
    $
8.35
     
8.46
   
$
133,792
 
 
                                                    
(1)
The weighted average price per share is determined using exercise price per share for stock options.
 
(2)
The aggregate intrinsic value is calculated as the difference between the exercise price of the option and the fair value of the Company’s common stock for in‑the‑money options at December 31, 2016.
Schedule of stock options outstanding and exercisable by exercise price
The stock options outstanding and exercisable by exercise price at December 31, 2016 are as follows:
 
   
Stock Options Outstanding
   
Stock Options Exercisable
 
         
Weighted-
                   
         
Average
 
Weighted-
       
Weighted-
 
         
Remaining
 
Average
       
Average
 
   
Number
of
   
Contractual
Life
 
Exercise
Price
   
Number of
 
Exercise
Price
 
Range of Exercise Prices
 
Shares
   
In Years
 
Per Share
   
Shares
 
Per Share
 
$1.91 - $1.91
   
8,500
     
8.76
   
$
1.91
     
2,479
   
$
1.91
 
$2.11 - $3.30
   
51,800
     
9.74
     
3.26
     
50,562
     
3.29
 
$3.38 - $3.38
   
1,678,022
     
9.71
     
3.38
     
139,831
     
3.38
 
$3.40 - $4.72
   
55,712
     
9.63
     
3.52
     
52,430
     
3.45
 
$8.24 - $17.36
   
9,200
     
1.13
     
9.78
     
9,200
     
9.78
 
$42.88 - $48.00
   
32,601
     
1.08
     
45.52
     
32,539
     
45.52
 
     
1,835,835
     
9.50
   
$
4.15
     
287,041
   
$
$8.35
Schedule of fair value-based measurement of stock options granted under the entity's stock plans estimated using Black-Scholes model
The fair value‑ based measurement of stock options granted under the Company’s stock plans was estimated at the date of grant using the Black‑Scholes model with the following assumptions:
 
   
Year Ended December 31,
 
   
2016 
 
2015 
Expected term
 
5-6 years 
 
5-6 years 
Expected volatility
85 - 90%
 
67 - 78%
 
Risk-free interest rate
   
1.3 - 1.4%
   
1.5 - 1.8%
 
Expected dividend yield
   
0%
   
0%
Schedule of total stock-based compensation expense recognized
Total stock‑based compensation expense recognized was as follows:
 
   
Year Ended December 31,  
 
(In thousands)  
2016 
   
2015
 
General and administrative
 
$
547
   
$
1,134
 
Research and development
   
297
     
837
 
   
$
844
   
$
1,971