Quarterly report pursuant to Section 13 or 15(d)

Stock Option and Incentive Plans (Tables)

v3.19.1
Stock Option and Incentive Plans (Tables)
3 Months Ended
Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Stock Option Activity A summary of stock option activity for the three months ended March 31, 2019, 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, 2018
 
 
7,187,885
 
 
$
3.17
 
 
 
 
 
 
 
 
 
Granted
 
 
2,160,000
 
 
 
0.40
 
 
 
 
 
 
 
 
 
Exercised
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expired
 
 
(150,016
)
 
 
3.03
 
 
 
 
 
 
 
 
 
Forfeited
 
 
(113,125
)
 
 
1.46
 
 
 
 
 
 
 
 
 
Options outstanding at March 31, 2019
 
 
9,084,744
 
 
 
2.53
 
 
 
7.20
 
 
$
 
Vested and exercisable at March 31, 2019
 
 
5,191,031
 
 
 
3.63
 
 
 
5.76
 
 
$
 
Assumptions to Compute Fair Value of Stock Option Grants
The following assumptions were used to compute the fair value of stock options granted during the period:
 
 
 
Three Months Ended

March 31,
 
 
 
2019
 
 
2018
 
Risk free interest rate
 
 
2.51
%
 
 
2.56
%
Expected dividend yield
 
 
 
 
 
 
Expected term (in years)
 
 
6.06
 
 
 
6.06
 
Expected volatility
 
 
89.3
%
 
 
82.2
%