Quarterly report pursuant to Section 13 or 15(d)

Equity (Tables)

v3.19.3
Equity (Tables)
9 Months Ended
Sep. 30, 2019
Equity [Abstract]  
Summary of Option Activity
The following table summarizes stock option activity for the nine months ended September 30, 2019:

Stock Options Outstanding
Weighted Average Grant Date Fair Value
Weighted
Average
Exercise
Price
Weighted
Average
Remaining
Contractual
Term
(Years)
Aggregate Intrinsic Value
Outstanding, December 31, 2018 2,794,000    $ 1.78    $ 2.61    9.43 $ 21,200   
  Granted 1,115,000    $ 1.04    $ 1.30   
  Exercised (25,000)   $ 0.13    $ 0.20   
  Forfeited (103,000)   $ 1.29    $ 1.82   
Outstanding, September 30, 2019 3,781,000    $ 1.60    $ 2.28    8.61 $ 900   
Exercisable, September 30, 2019 993,083    $ 2.28    $ 3.42    7.79 $ —   
Schedule of Assumptions Used
The fair value of the option grants has been estimated, with the following assumptions:

Nine Months Ended September 30,
2019 2018
Risk-free interest rate 1.04  % to 1.30  % 0.95  % to 2.24  %
Volatility 85  % to 100  % 70  % to 89  %
Expected life (years) 5.31 to 6.25 5 to 6.25
Expected dividend yield —%    —%   
Components of Share-Based Compensation
Stock-based compensation for the three and nine months ended September 30, 2019 and 2018, are as follows (in thousands):
Three Months Ended September 30, Nine Months Ended September 30,
2019 2018 2019 2018
General and administrative
$ 430    $ 207    $ 1,003    $ 709   
Research and development
59    37    152    116   
Total
$ 489    $ 244    $ 1,155    $ 825