Share-Based Payments

The Company has in place a 2010 Equity Incentive Plan and a 2008 Equity Incentive Plan. In general, these plans provide for stock-based compensation in the form of (i) Non-statutory Stock Options; (ii) Restricted Stock Awards; and (iii) Stock Appreciation Rights to the Company’s employees, directors and non-employees. The plans also provide for limits on the aggregate number of shares that may be granted, the term of grants and the strike price of option awards.

Stock-based compensation expense was recognized as follows (table in thousands):



	Three Months Ended July 31,
	2020		2019
General and administrative	$	47	$	132
Sales and marketing	48		22
Research and development	4		3
Cost of oncology services	21		(26		)
Total stock-based compensation expense	$	120	$	131

Stock Option Grants

Black-Scholes assumptions used to calculate the fair value of options granted during the three months ended July 31, 2020 and 2019 were as follows:



	Three Months Ended July 31,
	2020	2019
Expected term in years	6	—
Risk-free interest rates	0.39%	—%
Volatility	72.64%	—%
Dividend yield	—%	—%

The weighted average fair value of stock options granted during the three months ended July 31, 2020 was $9.85. There was no stock options granted during the three months ended July 31, 2019.

The Company’s stock options activity for the three months ended July 31, 2020 was as follows:



	Directors and Employees		Non- Employees		Total		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value
Outstanding, April 30, 2020	2,228,326		43,332		2,271,658		$	3.23	5.0	$	10,663,000
Granted	7,500		—		7,500		8.94		9.85
Exercised			(1,160	)	(1,160	)	4.20
Forfeited	(500	)	—		(500	)	2.51
Canceled	(312	)	(923	)	(1,235	)	4.95
Expired	—		—		—

Outstanding, July 31, 2020	2,235,014		41,249		2,276,263		3.24		4.81

Vested and expected to vest as of July 31, 2020	2,235,014		41,249		2,276,263		3.24		4.81

Exercisable as of July 31, 2020	1,942,264		15,418		1,957,682		2.85		4.21	$	11,810,000