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Stock Incentive Plans (Tables)
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12 Months Ended |
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Dec. 31, 2014
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| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
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| Summary of Option Activity under Plans and Related Information |
The following table summarizes option activity under the plans, and
related information:
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Shares
Available
for Grant |
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Stock
Options
Outstanding |
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Weighted-
average
Exercise
Price |
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Balance—December 31, 2011
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306,188 |
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|
496,908 |
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|
$ |
3.70 |
|
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Granted
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(211,056 |
) |
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|
211,056 |
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|
0.55 |
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Exercised
|
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|
— |
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|
(2,924 |
) |
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|
3.36 |
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Forfeited
|
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|
32,585 |
|
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|
(32,585 |
) |
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|
3.43 |
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Expired
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52,549 |
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|
(52,549 |
) |
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3.49 |
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Balance—December 31, 2012
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180,266 |
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619,906 |
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2.67 |
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Granted
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(4,081 |
) |
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4,081 |
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0.48 |
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Exercised
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— |
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(212 |
) |
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0.55 |
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Forfeited
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7,247 |
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(7,247 |
) |
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2.33 |
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Expired
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149,563 |
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(149,563 |
) |
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4.73 |
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Balance—December 31, 2013
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332,995 |
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466,965 |
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|
1.99 |
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Additional options authorized
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940,884 |
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— |
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— |
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Granted
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(585,345 |
) |
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585,345 |
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11.76 |
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Assumed in business combination
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— |
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23,229 |
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2.06 |
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Exercised
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— |
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(9,363 |
) |
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2.14 |
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Forfeited
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20,591 |
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(20,591 |
) |
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10.36 |
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Expired
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13,781 |
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(13,781 |
) |
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2.74 |
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Balance—December 31, 2014
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722,906 |
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1,031,804 |
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7.36 |
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| Schedule of Outstanding, Exercisable and Vested Stock Options |
Outstanding, exercisable and vested stock options as of
December 31, 2014 are summarized as follows:
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Options Outstanding & Exercisable at December 31, 2014 |
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Options Vested at December 31, 2014 |
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Range of
Exercise Prices
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Number of
Options
Outstanding |
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Weighted
Average
Remaining
Contractual
Life (Years) |
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Weighted
Average
Exercise
Price |
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Number of
Options |
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Weighted
Average
Exercise
Price |
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$0.27 - 0.55
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200,002 |
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7.80 |
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$ |
0.55 |
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136,560 |
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$ |
0.55 |
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$2.05 - 3.01
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153,469 |
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6.36 |
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2.78 |
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147,641 |
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2.77 |
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$3.36 - 3.97
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110,188 |
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3.55 |
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3.47 |
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110,188 |
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3.47 |
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$7.03 - 12.40
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568,145 |
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9.38 |
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11.75 |
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21,012 |
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11.82 |
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1,031,804 |
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8.00 |
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7.36 |
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415,401 |
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2.68 |
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| Summary of Options Outstanding Vested and Expected to Vest |
Options outstanding that have vested and are expected to vest at
December 31, 2014 are as follows:
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Number of
Shares |
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Weighted
Average
Exercise
Price |
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Weighted
Average
Remaining
Contractual Life
(Years) |
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Aggregate
Intrinsic
Value
(In thousands) |
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Vested
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415,401 |
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$ |
2.68 |
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6.17 |
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$ |
1,994 |
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Expected to Vest
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616,403 |
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10.51 |
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9.19 |
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$ |
457 |
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Total
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1,031,804 |
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7.36 |
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7.98 |
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$ |
2,451 |
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| 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.
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Year Ended
December 31, |
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2014 |
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2013 |
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2012 |
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Expected term (in years)
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5.1 |
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6.0 |
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6.0 |
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Expected volatility
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42.18 |
% |
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45.25 |
% |
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46.55 |
% |
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Risk-free interest rate
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1.69 |
% |
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1.21 |
% |
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1.01 |
% |
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Expected dividend yield
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— |
% |
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— |
% |
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— |
% |
|
| 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):
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Year Ended December 31, |
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2014 |
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2013 |
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2012 |
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Cost of testing
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$ |
28 |
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$ |
3 |
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$ |
2 |
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Research and development
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88 |
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7 |
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13 |
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Sales and marketing
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29 |
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3 |
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5 |
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General and administrative
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390 |
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59 |
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49 |
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$ |
535 |
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$ |
72 |
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$ |
69 |
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| Schedule of Shares Issued and Associated Expense |
The shares issued and associated expense were as follows:
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Service Period
Three Months Ended
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Number of
Shares Issued |
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Fair Market Value
per Share at Date
of Issuance |
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Fair Value of
Shares Issued |
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September 30, 2014
|
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4,899 |
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$ |
7.03 |
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$ |
34,440 |
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December 31, 2014
|
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8,277 |
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|
7.25 |
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60,008 |
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Total
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13,176 |
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$ |
94,448 |
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