Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

v3.8.0.1
Stockholders' Equity (Tables)
9 Months Ended
Sep. 30, 2017
Equity [Abstract]  
Schedule of warrants exercised

During the nine months ended September 30, 2017, 1,175,796 shares were issued pursuant to cash and cashless warrant exercises as detailed below. Generally, the warrants specify using the preceding five-day average of closing prices for the Company’s common stock in the calculation of common stock to be issued pursuant to a cashless exercise.

 

Date of     Average Closing           Warrant     Common  
Warrant     Market Price     Exercise Price     Shares     Shares  
Exercise     Per Share     Per Share     Exercised     Issued  
                           
  2/10/2017     $ 11.016     $ 0.0034375       392,728       392,605  
  2/13/2017     $ 13.062     $ 3.00       25,119       19,349  
  2/13/2017     $ 13.062     $ 6.00       72,420       39,154  
  2/15/2017     $ 16.768     $ 6.00       65,177       41,856  
  2/16/2017     $ 16.768     $ 6.00       35,000       22,470  
  3/17/2017     $ 20.262     $ 6.00       2,500       2,500  
  3/20/2017     $ 20.304     $ 3.00       226,068       192,666  
  3/20/2017     $ 20.304     $ 6.00       586,596       413,253  
  4/3/2017     $ 19.148     $ 0.0034375       43,636       43,628  
  4/11/2017     $ 17.920     $ 6.00       12,500       8,315  
                                     
                          1,461,744       1,175,796  

Schedule of warrants outstanding

Warrants to purchase shares of the Company’s common stock at a weighted average exercise price of $8.45 per share are as follows.

 

Exercise Price     Expiration     Shares Subject to purchase  
per Share     Date     at September 30, 2017  
               
$ 7.12       5/18/2018       702,247  
$ 9.00       5/18/2019       1,605,131  
$ 10.00       11/21/2019       33,450  
                  2,340,828  
Schedule of the allocation of stock-based compensation

The stock-based compensation expense attributable to option grants was allocated as follows:

 

    Three months ended September 30,     Nine months ended September 30,  
    2017     2016     2017     2016  
Cost of product sales   $ 17     $     $ 41     $  
Research and development cost     62       120       222       226  
General and administrative expense     46       40       329       672  
Total   $ 125     $ 160     $ 592     $ 898  
Schedule of assumptions used in the black-scholes-Merton option-pricing model

The following assumptions were used in the Black-Scholes-Merton pricing model to estimate the fair value of options granted during the periods presented.

 

    Three months ended September 30,     Nine months ended September 30,  
    2017     2016     2017     2016  
                         
Expected stock volatility     70.7% - 71.4 %     72.9% - 73.9 %     70.7% - 72.7 %     72%-80 %
Risk free interest rate     1.50% - 1.65 %     0.92% - 1.02 %     1.38% - 1.79 %     0.92%-1.77 %
Expected years until exercise     3.5       3.5       2.5-3.5       2.5-3.5  
Dividend yield     0 %     0 %     0 %     0 %