XML 31 R18.htm IDEA: XBRL DOCUMENT
v3.20.2

STOCK-BASED COMPENSATION | 6 Months Ended
--- | ---
Jun. 30, 2020
STOCK-BASED COMPENSATION |
STOCK-BASED COMPENSATION | NOTE 12: STOCK-BASED COMPENSATION Stock Options Award of 2019 Performance Bonuses and 2020 Equity Incentive Awards On March 10, 2020, upon the recommendation of the compensation committee and pursuant to the Company’s 2014 Omnibus Stock Ownership Plan, the Company’s board of directors approved a total of 1,170,000 options to purchase the Company’s common stock as (i) performance bonuses for 2019 performance and (ii) equity-based incentive awards to the Company’s executive officers. Each option award was granted with an exercise price of $2.12 per share, the closing price of the Company’s common stock on the Nasdaq Global Market on March 10, 2020, with the option award vesting in 48 equal monthly installments over a four-year period, subject to such executive officer’s continued service on the applicable vesting date. Additionally, on March 10, 2020, the Company issued 111,000 options to purchase the Company’s common stock to other employees of the Company as equity-based incentive awards. Each option award was granted with an exercise price of $2.12 per share, the closing price of the Company’s common stock on the Nasdaq Global Market on March 10, 2020, with the option award vesting in 48 equal monthly installments over a four-year period, subject to such executive officer’s continued service on the applicable vesting date. The above awards were in addition to stock option awards issued during the six months ended June 30, 2020 to new employees upon their commencement of employment with the Company. A summary of the Company’s stock option activity is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | ​ | ​ |  | ​ | ​ |  | Weighted
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Average
​ | ​ | ​ | ​ | Weighted | ​ | ​ | ​ | ​ | Remaining
​ | ​ | Number of | ​ | Average | ​ | Total Intrinsic | ​ | Contractual
​ | ​ | Shares | ​ | Exercise Price | ​ | Value | ​ | Life (in years)
Outstanding as of January 1, 2020 |  | 4,983,000 | ​ | $ | 7.79 | ​ | $ | 18,000 |  | 8.9
Granted |  | 1,371,000 | ​ |  | 2.13 | ​ |  | — |  | 9.7
Cancelled |  | (512,500) | ​ |  | 9.13 | ​ |  | — |  | —
Outstanding as of June 30, 2020 |  | 5,841,814 | ​ | $ | 6.34 | ​ | $ | 14,000 |  | 8.7
Options vested and exercisable |  | 1,793,460 | ​ | $ | 7.70 | ​ | $ | — |  | 8.3
​ The Black-Scholes option pricing model is used to estimate the fair value of stock options granted under the Company’s share-based compensation plans. The weighted average assumptions used in calculating the fair values of stock options that were granted during the six months ended June 30, 2020 was as follows: ​
​ | ​ | ​ | ​ | ​
​ |  | For the Six Months Ended |
​ | ​ | June 30, 2020 | ​
Exercise price | ​ | $ | 2.13 | ​
Expected term (years) | ​ |  | 6.0 | ​
Expected stock price volatility | ​ |  | 109 | %
Risk-free rate of interest | ​ |  | 1 | %
Expected dividend rate | ​ |  | 0 | %
​ The following table sets forth stock-based compensation expenses recorded during the respective periods: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the Three Months Ended | ​ | For the Six Months Ended
​ |  | June 30, |  | June 30,
​ | ​ | 2020 |  | 2019 | ​ | 2020 |  | 2019
Stock Compensation expenses: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Research and development | ​ | $ | 528,000 | ​ | $ | 593,000 | ​ | $ | 1,309,000 | ​ | $ | 1,280,000
General and administrative | ​ |  | 833,000 | ​ |  | 770,000 | ​ |  | 1,396,000 | ​ |  | 1,609,000
Total stock compensation expenses | ​ | $ | 1,361,000 | ​ | $ | 1,363,000 | ​ | $ | 2,705,000 | ​ | $ | 2,889,000
​ At June 30, 2020, the total stock-based compensation cost related to unvested awards not yet recognized was $12.9 million. The expected weighted average period compensation costs to be recognized was approximately 3.0 years. Future option grants will impact the compensation expense recognized.

X
- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration