Annual report pursuant to Section 13 and 15(d)

Stock Plans and Stock-Based Compensation (Tables)

v2.4.1.9
Stock Plans and Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Stock Option Activity

The following table summarizes stock option activity:

 

     Shares
Subject to
Outstanding
Options
     Weighted-
Average
Exercise
Price of
Options
     Weighted-
Average
Remaining
Contractual
Term
(Years)
     Aggregate
Intrinsic
Value (in
thousands)
 

Outstanding as of December 31, 2013

     577,253       $ 7.00         9.57       $ 3   

Options granted

     445,950         5.44         

Options exercised

     (431      4.82         

Options forfeited

     (13,264      4.99         

Options expired

     (18,498      19.39         
  

 

 

          

Outstanding as of December 31, 2014

  991,010    $ 6.09      8.91    $ 4,559   
  

 

 

          

Vested and expected to vest as of December 31, 2014

  969,087    $ 6.11      8.90    $ 4,466   
  

 

 

          

Exercisable as of December 31, 2014

  515,908    $ 6.72      8.79    $ 2,461   
  

 

 

          
Summary of Stock Options Outstanding

The following table summarizes information about stock options outstanding as of December 31, 2014:

 

     Options Outstanding      Options Exercisable  

Exercise Price

   Number
of

Shares
     Weighted-
Average
Remaining
Contractual
Term
(Years)
     Number of Shares  

$4.77

     10,983         7.07         9,538   

$5.00

     867,782         8.94         499,625   

$5.23

     10,000         9.65         —     

$6.85

     12,000         9.73         —     

$7.00

     77,000         9.28         —     

$7.99

     6,500         9.36         —     

$30.21

     3,290         0.02         3,290   

$238.50

     3,455         1.73         3,455   
  

 

 

    

 

 

    

 

 

 
  991,010      8.91      515,908   
  

 

 

    

 

 

    

 

 

 
Estimated Weighted-Average Grant Date Fair Value

The following table presents the weighted-average assumptions the Company used with the Black-Scholes valuation model to derive the grant date fair value-based measurements of employee and director stock options and the resulting estimated weighted-average grant date fair-value-based measurements per share:

 

     Year Ended December 31,  
         2014             2013      

Weighted-average assumptions:

    

Expected term

     6 yrs        6 yrs   

Expected volatility

     90     92

Risk-free interest rate

     2.02     1.76

Expected dividend yield

     0     0

Weighted-average grant date fair value per share

   $ 4.06      $ 3.76   
Summary of Stock-Based Compensation Expense

Employee and director stock-based compensation expense recorded was as follows (in thousands):

 

     Year Ended
December 31,
 
     2014      2013  

Research and development

   $ 332       $ 184   

General and administrative

     952         691   
  

 

 

    

 

 

 

Total

$ 1,284    $ 875