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STOCK-BASED COMPENSATION PLANS (Tables)
 9 Months Ended
Sep. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Fair Value of Stock Options Grants
The Company used the Black Scholes option pricing model to determine the fair value of stock option grants, using the following assumptions for the three and nine months ended September 30, 2018 and 2017.
 
 
 
For the Three Months Ended September 30,
 
 
For the Nine Months Ended September 30,
 
 
 
2018
 
 
2017
 
 
2018
 
 
2017
 
Expected term (years)
 
 
6.25
 
 
 
6.25
 
 
 
6.25
 
 
 
6.25
 
Risk-free interest rate
 
 
2.78
%
 
 
1.82
%
 
 
2.78
%
 
 
1.79
%
Expected volatility
 
 
123.05
%
 
 
123.85
%
 
 
123.05
%
 
 
124.38
%
Expected dividend yield
 
 
0.00
%
 
 
0.00
%
 
 
0.00
%
 
 
0.00
%
Summary of Stock Option Activity Under the Option Plan
A summary of stock option activity under all equity compensation plans for the nine months ended September 30, 2018, is presented below:
 
 
 
 
 
 
 
 
 
Weighted-
 
 
 
 
 
 
 
 
 
 
 
 
Average
 
 
 
 
 
 
 
 
 
Weighted-
 
 
Remaining
 
 
Aggregate
 
 
 
Number of
 
 
Average
 
 
Contractual
 
 
Intrinsic
 
 
 
Shares
 
 
Exercise
 
 
Term
 
 
Value
 
 
 
(in thousands)
 
 
Price
 
 
(Years)
 
 
(in thousands)
 
Outstanding at December 31, 2017
 
 
2,126
 
 
$
0.56
 
 
 
6.6
 
 
$
5,579
 
Granted
 
 
120
 
 
$
2.64
 
 
 
 
 
 
 
 
 
Forfeited
 
 
(86
)
 
$
1.31
 
 
 
 
 
 
 
 
 
Exercised
 
 
(353
)
 
$
0.44
 
 
 
 
 
 
 
 
 
Outstanding at September 30, 2018
 
 
1,807
 
 
$
0.67
 
 
 
6.4
 
 
$
4,174
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Exercisable at September 30, 2018
 
 
1,235
 
 
$
0.38
 
 
 
5.3
 
 
$
3,215
 
Restricted Stock Award Activity Under all Equity Compensation Plans
A summary of restricted stock award activity under all equity compensation plans for the nine months ended September 30, 2018, is presented below:
 
 
 
Number of
 
 
 
Shares
 
 
 
(in thousands)
 
Granted but not vested at December 31, 2017
 
 
15
 
Granted
 
 
75
 
Forfeited
 
 
-
 
Vested
 
 
(13
)
Granted but not vested at September 30, 2018
 
 
77