XML 40 R36.htm IDEA: XBRL DOCUMENT

Share-Based Payment Awards (Tables)

12 Months Ended

Dec. 31, 2019

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

The following table provides a reconciliation of stock option activity under the Company’s equity incentive plans and for inducement awards for the year ended December 31, 2019:

	Number of options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life		Aggregate Intrinsic Value
						(in years)		(in thousands)
Outstanding at January 1, 2019		8,139,377		$	2.83
Granted		5,510,432			2.19
Exercised		(223,426	)		1.85
Forfeited		(1,483,063	)		2.49
Expired		(1,033,520	)		3.39
Outstanding at December 31, 2019		10,909,800		$	2.52		7.73	$	539
Exercisable at December 31, 2019		4,718,213		$	3.05		5.98	$	46

Schedule of Key Assumptions Used

In determining the grant date fair value of option awards, the key assumptions used to apply the Black-Scholes option pricing model for options granted under the 2016 Plan during the year ended December 31, 2019, the six months ended December 31, 2018 and the years ended June 30, 2018 and 2017 were as follows:

	Year Ended December 31,	Six Months Ended December 31,	Year Ended June 30,
	2019	2018	2018	2017
Option life (in years)	5.50 - 6.08	5.50 - 6.00	5.50 - 6.00	5.50 - 6.25
Stock volatility	60% - 65%	59% - 61%	59% - 64%	70% - 72%
Risk-free interest rate	1.37% - 2.63%	2.78% - 3.09%	2.18% - 2.89%	1.23% - 2.08%
Expected dividends	0.0%	0.0%	0.0%	0.0%

Summary of Information about Stock Options

The following table summarizes information about employee, consultant and director stock options under the Company’s equity incentive plans for the year ended December 31, 2019, the six months ended December 31, 2018 and the years ended June 30, 2018 and 2017 (in thousands except per share amounts):

	Year Ended December 31,		Six Months Ended December 31,		Year Ended June 30,
	2019		2018		2018		2017
Weighted-average grant date fair value per share	$	0.93	$	1.37	$	1.06	$	1.95
Total cash received from exercise of stock options		414		219		503		99
Total intrinsic value of stock options exercised		84		284		152		53

Summary of Restricted Stock Unit Activity

The following table provides a reconciliation of RSU activity under the 2016 Plan for the year ended December 31, 2019:

	Number of Restricted Stock Units			Weighted Average Grant Date Fair Value
Nonvested at January 1, 2019		590,213		$	1.86
Granted		587,761			1.90
Vested		(229,294	)		1.81
Forfeited		(161,781	)		2.19
Nonvested at December 31, 2019		786,899		$	1.83

Summary of Performance Stock Unit Activity

The following table provides a reconciliation of PSU activity for the year ended December 31, 2019:

	Number of Performance Stock Units			Weighted Average Grant Date Fair Value
Nonvested at January 1, 2019		370,000		$	2.01
Vested		(115,000	)		1.45
forfeited		(255,000	)		2.26
Nonvested at December 31, 2019		—		$	—

Summary of Deferred Stock Unit Activity

	Number of Deferred Stock Units			Weighted Average Grant Date Fair Value
Nonvested at January 1, 2019		35,418		$	1.95
Vested		(35,418	)		1.95
Nonvested at December 31, 2019		—		$	—

Compensation Expense from Stock-Based Payment Awards

The Company’s statements of comprehensive loss included total compensation expense from stock-based payment awards as follows (in thousands):

	Year Ended December 31,		Six Months Ended December 31,		Year Ended June 30,
	2019		2018		2018		2017
Compensation expense included in:
Research and development	$	1,073	$	913	$	1,252	$	1,109
Sales and marketing		715		325		50		—
General and administrative		2,780		1,312		1,402		1,347
	$	4,568	$	2,550	$	2,704	$	2,456