Quarterly report pursuant to Section 13 or 15(d)

Share Based Compensation (Tables)

v3.7.0.1
Share Based Compensation (Tables)
3 Months Ended
Mar. 31, 2017
Stockholders' Equity Note [Abstract]  
Summary of stock option activity
A summary of stock option activity for the three months ended March 31, 2017 under all of the Company’s options plans is as follows:
             
       
Weighted
 
       
Average
 
       
Exercise
 
   
Options
 
Price
 
Outstanding at December 31, 2016
   
1,835,835
   
$
4.15
 
Granted
   
615,000
     
2.92
 
Exercised
   
     
 
Cancelled (forfeited)
   
(17,905
)
   
3.29
 
Cancelled (expired)
   
(87
)
   
4.24
 
Outstanding at March 31, 2017
   
2,432,843
   
$
3.85
 
Schedule of fair value-based measurement of stock options granted under the entity's stock plans estimated using Black-Scholes model
The Company valued the options granted using the Black-Scholes options pricing model and the following weighted-average assumption terms for the three months ended March 31, 2017:
 
   
Three Months Ended
March 31, 2017
 
Exercise price
 
$
2.92
 
Market value
 
$
2.92
 
Risk-free rate
 
1.93% to 2.09%%
 
Expected term
 
5.0 to 6.0 years
 
Expected volatility
 
83.2% to 87.9%
 
Dividend yield
   
-
 
Schedule of total stock-based compensation expense recognized
The Company recorded stock-based compensation expense in the Condensed Consolidated Statements of Operations and Comprehensive Loss as follows:

   
Three Months 
 
   
Ended March 31,  
 
(in thousands)
 
2017
   
2016
 
General and administrative
 
$
923
   
$
1
 
Research and development
   
163
     
1
 
   
$
1,086
   
$
2