Annual report pursuant to Section 13 and 15(d)

Stock Plans (Tables)

v3.8.0.1
Stock Plans (Tables)
12 Months Ended
Dec. 31, 2017
Stock Plans [Abstract]  
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]
Activity under our stock plans, as well as non-plan activity, is summarized below (shares in thousands):
 
 
 
Shares or
Awards  Available
For Grant
 
Number of
Options and
Awards
Outstanding
 
Weighted Average
Exercise Price
 
Balance at December 31, 2014
 
 
282
 
 
1,269
 
$
6.40
 
Increase in shares reserved
 
 
1,364
 
 
 
 
 
Options granted
 
 
(700)
 
 
700
 
$
4.46
 
Options expired
 
 
 
 
(20)
 
$
13.27
 
Awards issued
 
 
 
 
(66)
 
$
 
Termination of option plan
 
 
(32)
 
 
 
$
 
Balance at December 31, 2015
 
 
914
 
 
1,883
 
$
5.83
 
Increase in shares reserved
 
 
1,136
 
 
 
 
 
Options granted
 
 
(168)
 
 
168
 
$
5.10
 
Options exercised
 
 
 
 
(8)
 
$
3.37
 
Options expired
 
 
 
 
(41)
 
$
10.85
 
Balance at December 31, 2016
 
 
1,882
 
 
2,002
 
$
5.67
 
Options granted
 
 
(946)
 
 
946
 
$
2.55
 
Options cancelled
 
 
60
 
 
(114)
 
$
5.27
 
Options expired
 
 
 
 
(106)
 
$
13.11
 
Balance at December 31, 2017
 
 
996
 
 
2,728
 
$
4.32
 
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]
Options to purchase approximately 2.1 million and 1.7 million shares were exercisable at December 31, 2017 and 2016, respectively. The options outstanding at December 31, 2017 have been segregated into five ranges for additional disclosure as follows (options in thousands):
 
 
 
Options Outstanding
 
Options Exercisable
 
Range of Exercise 
Prices
 
Number
Outstanding
 
Weighted
Average
Remaining
Life (Years)
 
Weighted
Average
Exercise Price
 
Number
Exercisable
 
Weighted
Average
Exercise Price
 
$1.25 - $2.89
 
 
519
 
 
5.96
 
$
1.42
 
 
122
 
$
1.37
 
$2.90 - $3.95
 
 
666
 
 
8.28
 
$
3.67
 
 
458
 
$
3.57
 
$3.96 - $4.72
 
 
421
 
 
1.56
 
$
4.33
 
 
420
 
$
4.33
 
$4.73 - $5.41
 
 
588
 
 
7.99
 
$
5.10
 
 
574
 
$
5.10
 
$5.42 - $12.98
 
 
534
 
 
3.22
 
$
7.07
 
 
534
 
$
7.07
 
$1.25 - $12.98
 
 
2,728
 
 
5.75
 
$
4.32
 
 
2,108
 
$
4.90
 
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions [Table Text Block]
We use the Black-Scholes-Merton option-pricing model with the following assumptions to estimate the stock-based compensation expense for the years ended December 31, 2017, 2016 and 2015:
 
 
 
Years Ended December 31,
 
 
 
2017
 
2016
 
2015
 
Weighted-average risk-free interest rate
 
 
2.13
%
 
1.53
%
 
1.88
%
Expected dividend payments
 
 
 
 
 
 
 
Expected holding period (years)(1)
 
 
5.90
 
 
6.53
 
 
6.48
 
Weighted-average volatility factor(2)
 
 
0.90
 
 
0.92
 
 
1.16
 
Estimated forfeiture rates for options granted
 
 
27
%
 
29
%
 
30
%
 
(1)
Expected holding period is based on historical experience of similar awards, giving consideration to the contractual terms of the stock-based awards, vesting schedules and the expectations of future employee behavior.
 
(2)
Weighted average volatility is based on the historical volatility of our common stock.
 
(3)
Estimated forfeiture rates are based on historical data.
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]
The following table summarizes the stock-based compensation expense and impact on our basic and diluted loss per share for the years ended December 31, 2017, 2016 and 2015:
 
 
 
Years Ended December 31,
 
(in thousands, except per share amounts)
 
2017
 
2016
 
2015
 
Research and development
 
$
519
 
$
386
 
$
341
 
General and administrative
 
 
1,168
 
 
653
 
 
685
 
Total stock-based compensation expenses
 
$
1,687
 
$
1,039
 
$
1,026
 
Increase in basic net income (loss) per share
 
$
(0.08)
 
$
(0.05)
 
$
(0.05)
 
Increase in diluted net income (loss) per share
 
$
(0.08)
 
$
(0.05)
 
$
(0.05)
 
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block]
 
The following table summarizes option activity for the year ended December 31, 2017:
 
(in thousands, except per share
amounts)
 
Shares
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Contractual
Term
 
Aggregate
Intrinsic
Value
 
Outstanding at January 1, 2017
 
 
2,002
 
$
5.67
 
 
5.68
 
$
203
 
Granted
 
 
946
 
 
2.55
 
 
 
 
 
 
 
Cancelled
 
 
(114)
 
 
5.27
 
 
 
 
 
 
 
Expired
 
 
(106)
 
 
13.11
 
 
 
 
 
 
 
Outstanding at December 31, 2017
 
 
2,728
 
$
4.32
 
 
5.75
 
$
30
 
Exercisable at December 31, 2017
 
 
2,108
 
$
4.90
 
 
5.34
 
$
8