Quarterly report pursuant to Section 13 or 15(d)

Stock Option and Incentive Plans (Tables)

v3.7.0.1
Stock Option and Incentive Plans (Tables)
6 Months Ended
Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Stock Option Activity

A summary of stock option activity for the six months ended June 30, 2017, is summarized as follows:

 

     Number of
Options
     Weighted
Average
Exercise Price
     Weighted
Average Remaining
Contractual Life
(in years)
     Aggregate
Intrinsic

Value
 

Options outstanding at December 31, 2016

     4,691,746      $ 4.62        

Granted

     1,502,500        1.73        

Expired

     (93,300      4.78        

Forfeited

     (63,963      2.81        
  

 

 

          

Options outstanding at June 30, 2017

     6,036,984        3.91        6.25      $ —    
  

 

 

          

 

 

 

Vested and exercisable at June 30, 2017

     4,045,365        4.61        4.91      $ —    
  

 

 

          

 

 

 
Assumptions to Compute Fair Value of Stock Option Grants

The following assumptions were used to compute the fair value of stock option grants:

 

     Three Months Ended June 30     Six Months Ended June 30,  
     2017     2016     2017     2016  

Risk free interest rate

     1.89     1.28     2.08     1.22

Expected dividend yield

     —         —         —         —    

Expected term (in years)

     5.54       5.48       6.00       4.96  

Expected volatility

     81.7     80.7     79.1     79.9