XML 83 R27.htm IDEA: XBRL DOCUMENT v3.2.0.727

Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2015

Calculation of Fair Value Assumptions Using Black Scholes Option Model

The estimated fair values of employee stock options granted during the six months ended June 30, 2015 and 2014, were determined on the date of grant using the Black-Scholes option-pricing model with the following assumptions:

		Three Months Ended June 30,				Six Months Ended June 30,
		2015		2014		2015		2014
Expected option life (years)		1.48 - 6.12		5.96		1.48 - 6.22		5.96
Risk-free interest rate		0.68% - 1.91%		1.54%		0.68% - 1.91%		1.54% - 1.57%
Expected volatility		65.85% - 73.33%		133%		73.33% - 132.0%		131% - 133%
Expected dividend yield		0%		0%		0%		0%

Summary of Stock Option Activity

The following table summarizes stock option activity for the six months ended June 30, 2015:

		Number of Options				Weighted- Average Exercise Price				Weighted- Average Remaining Contractual Term (Years)				Aggregate Intrinsic Value
Outstanding—December 31, 2014			732,823			$	2.08				6.73			$	5,508
Granted			1,299,251			$	11.56
Options assumed in Merger			24,400			$	14.07
Exercised			(70,988	)		$	2.11
Forfeited or expired			(2,016	)		$	2.16
Outstanding—June 30, 2015			1,983,470			$	8.44				9.07			$	4,339
Exercisable—June 30, 2015			694,942			$	3.73				7.71			$	5,582
Vested or expected to vest—June 30, 2015			1,888,088			$	8.31				9.03			$	6,535

Stock-Based Compensation Expense Related to Option Awards

The following table presents the stock-based compensation expense related to option awards for the three and six months ended June 30:

		Three Months Ended June 30,								Six Months Ended June 30,
		2015				2014				2015				2014
Research and development		$	50			$	40			$	81			$	105
General and administrative			2,661				15				2,664				41
Total stock based compensation expense		$	2,711			$	55			$	2,745			$	146

Summary of Restricted Stock Unit Activity

The following table summarizes stock RSU activity for the six months ended June 30, 2015:

		Number of Units				Weighted- Average Grant Date Fair Value				Total Grant Date Fair Value
Outstanding—December 31, 2014			—			$	—			$	—
Granted			329,052			$	12.65				4,163
Vested			(130,435	)		$	12.65				(1,650	)
Forfeited or expired			—				—				—
Outstanding—June 30, 2015			198,617			$	12.65			$	2,513

Hercules Warrants [Member]

Calculation of Fair Value Assumptions Using Black Scholes Option Model

The fair value of the warrants was determined using the Black-Scholes option pricing model, using the following assumptions:

Exercise price		$	8.35
Fair value of underlying stock		$	11.80
Expected volatility			72.52	%
Contractual term			5 years
Risk-free interest rate			1.68	%
Expected dividend yield			0	%

X

- Definition

Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef



-Publisher FASB



-Name Accounting Standards Codification



-Topic 718



-SubTopic 10



-Section 50



-Paragraph 2



-Subparagraph (h)(1)



-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901



Reference 2: http://www.xbrl.org/2003/role/presentationRef



-Publisher FASB



-Name Accounting Standards Codification



-Topic 718



-SubTopic 10



-Section 50



-Paragraph 1



-Subparagraph (b)



-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901



Reference 3: http://www.xbrl.org/2003/role/presentationRef



-Publisher FASB



-Name Accounting Standards Codification



-Topic 718



-SubTopic 10



-Section S99



-Paragraph 1



-Subparagraph (SAB TOPIC 14.F)



-URI http://asc.fasb.org/extlink&oid=27013229&loc=d3e301413-122809



Reference 4: http://www.xbrl.org/2003/role/presentationRef



-Publisher SEC



-Name Staff Accounting Bulletin (SAB)



-Number Topic 14



-Section F

+ Details

Name:	us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef



-Publisher FASB



-Name Accounting Standards Codification



-Topic 718



-SubTopic 10



-Section 50



-Paragraph 2



-Subparagraph (c)(1)



-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef



-Publisher FASB



-Name Accounting Standards Codification



-Topic 718



-SubTopic 10



-Section 50



-Paragraph 2



-Subparagraph (f)(2)



-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Details

Name:	us-gaap_ClassOfWarrantOrRightAxis=pulm_HerculesWarrantsMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type: