Quarterly report pursuant to Section 13 or 15(d)

Stock Plans (Tables)

v3.10.0.1
Stock Plans (Tables)
 9 Months Ended
Sep. 30, 2018
Share-based Compensation [Abstract]  
Share-based Compensation, Stock Options, Activity [Table Text Block]
The following table summarizes the stock-based compensation expense recorded for awards under the stock option plans for the three and nine-month periods ended September 30, 2018 and 2017:
 
 
 
Three Months Ended
September 30,
 
 
Nine Months Ended
‎
September 30,
 
(in thousands, except per share amounts)
 
2018
 
 
2017
 
 
2018
 
 
2017
 
Research and development
 
$
136
 
 
$
134
 
 
$
455
 
 
$
379
 
General and administrative
 
 
252
 
 
 
270
 
 
 
767
 
 
 
828
 
Total stock-based compensation expenses
 
$
388
 
 
$
404
 
 
$
1,222
 
 
$
1,207
 
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 three and nine-month periods ended September 30, 2018 and 2017:
 
 
 
Three Months Ended
‎
September 30,
 
 
Nine Months Ended
September 30,
 
 
 
2018
 
 
2017
 
 
2018
 
 
2017
 
Weighted-average risk-free interest rate
 
 
2.9
%
 
 
2.0
%
 
 
2.7
%
 
 
2.1
%
Expected dividend payments
 
 
—
 
 
 
—
 
 
 
—
 
 
 
—
 
Expected holding period (years)
1
 
 
6.4
 
 
 
6.6
 
 
 
6.4
 
 
 
6.6
 
Weighted-average volatility factor
2
 
 
0.91
 
 
 
0.88
 
 
 
0.89
 
 
 
0.88
 
Estimated forfeiture rates
3
 
 
25
%
 
 
26
%
 
 
26
%
 
 
27
%
 
(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 Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block]
The following table summarizes option activity for the nine-month period ended September 30, 2018:
 
(in thousands, except per share amounts)
 
Options
 
 
Weighted

‎
Average

‎
Exercise

‎
Price
 
 
Weighted

‎
Average

‎
Remaining

‎
Option

‎
Term
 
 
Aggregate

‎
Intrinsic

‎
Value
 
Outstanding at January 1, 2018
 
 
2,728
 
 
$
4.32
 
 
 
5.75
 
 
$
30
 
Granted
 
 
950
 
 
 
0.97
 
 
 
 
 
 
 
 
 
Exercised
 
 
—
 
 
 
—
 
 
 
 
 
 
 
 
 
Expired
 
 
(18
)
 
 
8.36
 
 
 
 
 
 
 
 
 
Cancelled or forfeited
 
 
(188
)
 
 
3.88
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Outstanding at September 30, 2018
 
 
3,472
 
 
$
3.40
 
 
 
6.19
 
 
$
—
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Exercisable at September 30, 2018
 
 
3,064
 
 
$
3.65
 
 
 
5.95
 
 
$
—