Quarterly report pursuant to Section 13 or 15(d)

Stock Option and Incentive Plans (Tables)

v3.19.2
Stock Option and Incentive Plans (Tables)
6 Months Ended
Jun. 30, 2019
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, 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
    5,505,000       0.40                  
Exercised
    —         —                    
Expired
    (192,266     2.92                  
Forfeited
    (135,625     1.22                  
   
 
 
                         
Options outstanding at June 30, 2019
    12,364,994       1.96       7.67     $ 585,100  
   
 
 
                   
 
 
 
Vested and exercisable at June 30, 2019
    5,540,325       3.49       5.63     $ 29,138  
   
 
 
                   
 
 
 
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

June 30,
   
Six Months Ended

June 30,
 
   
2019
   
2018
   
2019
   
2018
 
Risk free interest rate
    2.28     2.81     2.37     2.57
Expected dividend yield
          —               —    
Expected term (in years)
    6.09       5.40       6.08       6.02  
Expected volatility
    90.0     82.5     89.7     82.3