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Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Company's Stock Option Activity and Related Information

A summary of the Company’s stock option activity and related information is as follows:

 

 

 

 

 

 

 

Options Outstanding

 

 

 

Shares

Available

for Grant

 

 

Number

of Stock

Options

Outstanding

 

 

Weighted-

Average

Exercise

Price

 

 

Weighted-

Average

Remaining

Contractual Life

(Years)

 

 

Aggregate

Intrinsic

Value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(In thousands)

 

Balance at December 31, 2016

 

 

2,168,391

 

 

 

6,127,291

 

 

$

2.60

 

 

 

7.3

 

 

$

7,800

 

Additional options authorized

 

 

1,743,247

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options granted

 

 

(2,112,487

)

 

 

2,112,487

 

 

 

5.10

 

 

 

 

 

 

 

 

 

Options exercised

 

 

 

 

 

(230,733

)

 

 

0.84

 

 

 

 

 

 

 

 

 

Options cancelled

 

 

34,921

 

 

 

(34,921

)

 

 

2.71

 

 

 

 

 

 

 

 

 

Balance at June 30, 2017

 

 

1,834,072

 

 

 

7,974,124

 

 

$

3.31

 

 

 

7.7

 

 

$

25,264

 

Vested and exercisable at June 30, 2017

 

 

 

 

 

 

4,216,526

 

 

$

2.11

 

 

 

6.5

 

 

$

18,401

 

Vested and expected to vest at June 30, 2017

 

 

 

 

 

 

7,657,935

 

 

$

3.26

 

 

 

7.6

 

 

$

24,669

 

 

Schedule of Weighted-Average Assumptions Used in Black-Scholes Option-Pricing Model to Estimate Fair Value of Employee Stock Option at Grant Date

The fair value of employee stock option was estimated at the date of grant using a Black-Scholes option-pricing model with the following weighted-average assumptions:  

 

 

 

Six Months Ended

June 30,

 

 

 

2017

 

 

2016

 

Expected term (in years)

 

 

6.0

 

 

 

6.0

 

Expected volatility%

 

 

67.1%

 

 

 

69.7%

 

Risk-free interest rate%

 

 

2.1%

 

 

 

1.3%

 

Expected dividend yield%

 

 

0.0%

 

 

 

0.0%

 

 

Summary of Stock-Based Compensation Expense

Total stock-based compensation expense recognized in the Company’s condensed consolidated statements of operations is classified as follows (in thousands):

 

 

 

Three Months Ended

June 30,

 

 

Six Months Ended

June 30,

 

 

 

2017

 

 

2016

 

 

2017

 

 

2016

 

Research and development

 

$

216

 

 

$

235

 

 

$

381

 

 

$

356

 

Selling and marketing

 

 

72

 

 

 

14

 

 

 

123

 

 

 

38

 

General and administrative

 

 

725

 

 

 

440

 

 

 

1,278

 

 

 

851

 

Total stock-based compensation expense

 

$

1,013

 

 

$

689

 

 

$

1,782

 

 

$

1,245