v2.4.1.9
Stock Incentive Plans (Tables)
12 Months Ended
Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Option Activity under Plans and Related Information

The following table summarizes option activity under the plans, and related information:

 

     Shares
Available
for Grant
     Stock
Options
Outstanding
     Weighted-
average
Exercise
Price
 

Balance—December 31, 2011

     306,188         496,908       $ 3.70   

Granted

     (211,056      211,056         0.55   

Exercised

     —           (2,924      3.36   

Forfeited

     32,585         (32,585      3.43   

Expired

     52,549         (52,549      3.49   
  

 

 

    

 

 

    

Balance—December 31, 2012

  180,266      619,906      2.67   

Granted

  (4,081   4,081      0.48   

Exercised

  —        (212   0.55   

Forfeited

  7,247      (7,247   2.33   

Expired

  149,563      (149,563   4.73   
  

 

 

    

 

 

    

Balance—December 31, 2013

  332,995      466,965      1.99   

Additional options authorized

  940,884      —        —     

Granted

  (585,345   585,345      11.76   

Assumed in business combination

  —        23,229      2.06   

Exercised

  —        (9,363   2.14   

Forfeited

  20,591      (20,591   10.36   

Expired

  13,781      (13,781   2.74   
  

 

 

    

 

 

    

Balance—December 31, 2014

  722,906      1,031,804      7.36  
  

 

 

    

 

 

    

 

Schedule of Outstanding, Exercisable and Vested Stock Options

Outstanding, exercisable and vested stock options as of December 31, 2014 are summarized as follows:

 

     Options Outstanding & Exercisable at December 31, 2014      Options Vested at December 31, 2014  

Range of

Exercise Prices

   Number of
Options
Outstanding
     Weighted
Average
Remaining
Contractual

Life (Years)
     Weighted
Average
Exercise

Price
     Number of
Options
     Weighted
Average
Exercise

Price
 

$0.27 - 0.55

     200,002         7.80       $ 0.55         136,560       $ 0.55   

$2.05 - 3.01

     153,469         6.36         2.78         147,641         2.77   

$3.36 - 3.97

     110,188         3.55         3.47         110,188         3.47   

$7.03 - 12.40

     568,145         9.38         11.75         21,012         11.82   
  

 

 

          

 

 

    
  1,031,804      8.00      7.36      415,401      2.68   
  

 

 

          

 

 

    
Summary of Options Outstanding Vested and Expected to Vest

Options outstanding that have vested and are expected to vest at December 31, 2014 are as follows:

 

     Number of
Shares
     Weighted
Average
Exercise
Price
     Weighted
Average
Remaining
Contractual Life

(Years)
     Aggregate
Intrinsic
Value
(In thousands)
 

Vested

     415,401       $ 2.68         6.17       $ 1,994   

Expected to Vest

     616,403         10.51         9.19       $ 457   
  

 

 

          

 

 

 

Total

  1,031,804      7.36      7.98    $ 2,451   
  

 

 

          

 

 

 
Weighted-Average Assumptions Used to Fair Value of Share-Based Awards

The fair value of stock-based awards was estimated using the Black-Scholes option-pricing model using the following weighted-average assumptions.

 

     Year Ended December 31,  
     2014     2013     2012  

Expected term (in years)

     5.1        6.0        6.0   

Expected volatility

     42.18     45.25     46.55

Risk-free interest rate

     1.69     1.21     1.01

Expected dividend yield

     —       —       —  
Summary of Stock-Based Compensation Expense Related to Stock Options Included in Statements of Operations and Comprehensive Loss

The following table summarizes stock-based compensation expense related to stock options for the years ended December 31, 2013, 2013 and 2012, included in the statements of operations and comprehensive loss as follows (in thousands):

 

     Year Ended December 31,  
       2014          2013          2012    

Cost of testing

   $ 28       $ 3       $ 2   

Research and development

     88         7         13   

Sales and marketing

     29         3         5   

General and administrative

     390         59         49   
  

 

 

    

 

 

    

 

 

 
$ 535    $ 72    $ 69   
  

 

 

    

 

 

    

 

 

 
Schedule of Shares Issued and Associated Expense

The shares issued and associated expense were as follows:

 

Service Period

Three Months Ended

   Number of
Shares Issued
     Fair Market Value
per Share at Date
of Issuance
     Fair Value of
Shares Issued
 

September 30, 2014

     4,899       $ 7.03       $ 34,440   

December 31, 2014

     8,277         7.25         60,008   
  

 

 

       

 

 

 

Total

  13,176    $ 94,448