Annual report pursuant to Section 13 and 15(d)

Stock-based Compensation (Tables)

v3.21.1
Stock-based Compensation (Tables)
 12 Months Ended
Dec. 31, 2020
Share-based Payment Arrangement [Abstract]  
Schedule of Recognized Stock-Based Compensation

The Company recognized stock-based compensation expense (options and restricted share grants) in its consolidated statements of operations as follows (in thousands):

 

    Year Ended December 31,  
    2020     2019  
Research and Development   $ 1,897     $ 973  
General and Administrative     2,668       2,012  
Total   $ 4,565     $ 2,985  
Schedule of Equity Compensation Plan by Arrangements

The following table contains information about the Company’s stock plan at December 31, 2020:

 

    Awards Reserved for Issuance     Awards Issued & Exercised     Awards Available for Grant  
2013 Equity Compensation Plan (in thousands)     28,948 *     25,928 **     3,020  

 

* Increased by 6,526 thousand on January 1, 2020, representing 4% of the total number of shares of common stock outstanding on December 31, 2019.
** Includes both stock grants and option grants
Schedule of Stock Option Activity

The following table summarizes the Company’ stock option activity and related information for the period from January 1, 2019 to December 31, 2020 (options in thousands):

 

    Number of Options     Weighted Average Exercise Price     Weighted Average Contractual Term in Years  
Outstanding at January 1, 2019     13,457     $ 1.13       6.2  
Granted     4,539     $ 1.05          
Exercised     (73 )     0.42          
Forfeited     (334 )   $ 1.00          
Cancelled     -       -          
Expired     (60 )   $ 2.19          
Outstanding at December 31, 2019     17,529     $ 1.11       6.2  
Outstanding at January 01, 2020     17,529     $ 1.11       6.2  
Granted     6,501     $ 1.59          
Exercised *     (826 )   $ 0.74          
Forfeited     (72 )   $ 1.11          
Cancelled     -       -          
Expired     (581 )   $ 1.25          
Outstanding at December 31, 2020     22,551     $ 1.26       6.9  

 

* Resulted in the issuance of approximately 782 thousand shares of common stock due to certain cashless exercises.
Schedule of Outstanding Options Exercise Price

The following table summarizes outstanding options at December 31, 2020, by their exercise price (options in thousands):

 

Range of Exercise Prices   Number Outstanding     Weighted Average Exercise Price Per Share  
$0.41 - $0.69     2,682     $ 0.48  
$0.74 - $1.12     12,326     $ 0.92  
$1.24 - $1.61     2,788     $ 1.33  
$2.27 - $3.32     4,755     $ 2.55  
      22,551     $ 1.26  
Schedule of Share Based Payment Assumptions

 

    For the Year Ended December 31,  
    2020     2019  
Volatility   100.5% - 107.4 %   106.1% - 111.3 %
Risk-free interest rate     0.34% - 1.74 %     1.59% - 2.65 %
Dividend yield     0.0 %     0.0 %
Expected life     6.0 years       6.0 years