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Stock Option Plan and Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2017

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Schedule of Stock Option Activity

Stock option activity under the Plan is as follows:

		Shares Issuable Pursuant to Stock Options				Weighted- Average Exercise Price
Outstanding January 1, 2017			3,974,143			$	6.61
Granted			435,000			$	8.76
Exercised			(197,874	)		$	5.71
Forfeited			(213,619	)		$	8.09
Outstanding September 30, 2017			3,997,650			$	6.80
Exercisable September 30, 2017			2,301,624			$	6.00
Available for future grant			1,375,154

Summary of Assumptions Used in Black Scholes Model to Estimate Fair Value of Stock Options

The Company uses the Black Scholes model to estimate the fair value of stock options granted.  For stock options granted during the nine months ended September 30, 2017 and 2016, the Company utilized the following assumptions:

		September 30,
		2017				2016
Expected term (years)		5.5-6.25				5.5-6.25
Risk free interest rate		1.83-2.02%				1.17-1.52%
Volatility		79-84%					78%
Dividend yield			0%				0%
Weighted average grant date fair value per share of    common stock		$	5.08			$	5.53

Schedule of RSU Activity

RSU activity under the Plan for the nine months ended September 30, 2017 is as follows:

						Weighted-Average
						Grant Date
		RSUs				Fair Value
Unvested January 1, 2017			219,600			$	13.45
Granted			-			$	-
Vested			-			$	-
Forfeited			(25,000	)		$	13.45
Unvested September 30, 2017			194,600			$	13.45

Non-Employees Stock Options

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Summary of Assumptions Used in Black Scholes Model to Estimate Fair Value of Stock Options

For stock options granted to non-employees, the Company utilized the following assumptions:

		September 30,
		2017				2016
Expected term (years)		8.9-9.5				9.9
Risk free interest rate		2.27-2.31%					1.60%
Volatility		111-112%					101%
Dividend yield			0%				0%
Weighted average grant date fair value per share of    common stock		$	6.85			$	12.76

X

- Definition

Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited 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=96867065&loc=d3e5070-113901

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

+ 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 (d)
-URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901

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-Publisher FASB
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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

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-Section 50
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