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Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Assumptions Used to Compute Share-Based Compensation Costs for Stock Options Granted

The assumptions used to compute the share-based compensation costs for the stock options granted during the years ended December 31, 2019 and 2018, using the Black-Scholes option pricing model, were as follows:

 

 

 

Year Ended December 31,

 

 

 

2019

 

 

2018

 

Weighted average grant date fair value of

   stock options

 

$

1.84

 

 

$

1.56

 

Assumptions

 

 

 

 

 

 

 

 

Risk-free interest rate (weighted average)

 

 

2.36

%

 

 

2.90

%

Expected dividend yield

 

 

—

 

 

 

—

 

Weighted average expected life (years)

 

 

6.2

 

 

 

6.2

 

Volatility (weighted average)

 

 

78.7

%

 

 

73.8

%

Forfeiture rate

 

 

26.0

%

 

 

26.6

%

 
Assumptions Used Estimate Fair Value of Employee Stock Purchase Plans Following is a schedule of the shares purchased, the fair value per share, and the Black-Scholes model assumptions for each offering period:

 

 

 

September 30,

 

 

March 31,

 

 

September 30,

 

 

March 31,

 

Offering Period Ended

 

2019

 

 

2019

 

 

2018

 

 

2018

 

Shares purchased for offering

   period

 

 

2,195

 

 

 

2,112

 

 

 

1,843

 

 

 

3,250

 

Fair value per share

 

$

2.28

 

 

$

1.07

 

 

$

0.96

 

 

$

0.75

 

Assumptions

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk-free interest rate (average)

 

 

1.84

%

 

 

2.44

%

 

 

2.29

%

 

 

1.92

%

Expected dividend yield

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Weighted average expected life

   (years)

 

 

0.5

 

 

 

0.5

 

 

 

0.5

 

 

 

0.5

 

Volatility (average)

 

 

86.3

%

 

 

51.7

%

 

 

54.3

%

 

 

81.4

%

 
Non-Cash Stock-Based Compensation Expenses

Non-cash stock-based compensation expenses related to stock options, restricted stock grants and the ESPP were recorded in the financial statements as follows (in thousands):

 

 

 

Year Ended December 31,

 

 

 

2019

 

 

2018

 

Selling and marketing

 

$

247

 

 

$

112

 

Research and development

 

 

278

 

 

 

207

 

General and administrative

 

 

969

 

 

 

616

 

Total non-cash stock compensation expense

 

$

1,494

 

 

$

935

 

 
Summary of Outstanding Stock Options and Related Activity

A summary of the Company’s stock options outstanding under the 2015 OEIP and 2005 Plan as of December 31, 2019 and the activity during the years ended herein are as follows (in thousands except per share amounts):

 

 

 

Shares

 

 

Weighted Avg. Exercise Price

 

 

Wtd. Avg. Remaining Contractual Life (Yrs)

 

 

Aggregate Intrinsic Value

 

Outstanding as of December 31, 2017

 

 

137

 

 

$

5.71

 

 

 

 

 

 

$

7

 

(114 options exercisable at a weighted average

   exercise price of $6.18)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Granted

 

 

30

 

 

$

2.32

 

 

 

 

 

 

$

—

 

Exercised

 

 

—

 

 

$

—

 

 

 

 

 

 

$

—

 

Canceled / expired

 

 

(9

)

 

$

8.96

 

 

 

 

 

 

$

—

 

Outstanding as of December 31, 2018

 

 

158

 

 

$

4.88

 

 

 

5.9

 

 

$

—

 

(121 options exercisable at a weighted average

   exercise price of $5.64)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Granted

 

 

65

 

 

$

2.65

 

 

 

 

 

 

$

—

 

Exercised

 

 

(13

)

 

$

3.81

 

 

 

 

 

 

$

28

 

Canceled / expired

 

 

(13

)

 

$

7.81

 

 

 

 

 

 

$

22

 

Outstanding as of December 31, 2019

 

 

197

 

 

$

4.03

 

 

 

6.3

 

 

$

171

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable as of December 31, 2019

 

 

112

 

 

$

5.16

 

 

 

4.1

 

 

$

35

 

Vested and expected to vest at December 31, 2019

 

 

163

 

 

$

3.67

 

 

 

6.0

 

 

$

133

 

 
Summary of Outstanding Restricted Stock Awards and Related Activity

A summary of the Company’s restricted stock awards outstanding under the 2015 OEIP and 2005 Plan as of December 31, 2019, and the activity during years ended therein, are as follows (in thousands):

 

 

 

 

 

 

 

Weighted average

 

 

 

Number

 

 

grant date

 

 

 

of shares

 

 

fair value

 

Unvested at December 31, 2017

 

 

167

 

 

 

3.49

 

Granted

 

 

1,125

 

 

 

1.92

 

Vested

 

 

(283

)

 

 

2.52

 

Canceled and forfeited

 

 

(2

)

 

 

0.83

 

Unvested at December 31, 2018

 

 

1,007

 

 

 

2.01

 

Granted

 

 

1,250

 

 

 

2.00

 

Vested

 

 

(673

)

 

 

2.06

 

Canceled and forfeited

 

 

(25

)

 

 

1.97

 

Unvested at December 31, 2019

 

 

1,559

 

 

 

1.98