Quarterly report pursuant to Section 13 or 15(d)

Stock Option and Incentive Plans (Tables)

v3.19.3
Stock Option and Incentive Plans (Tables)
9 Months Ended
Sep. 30, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Stock Option Activity A summary of stock option activity for the nine months ended September 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
     5,655,500        0.43                    
Exercised
     —          —                      
Expired
     (230,079      2.72                    
Forfeited
     (147,500      1.19                    
    
 
 
                            
Options outstanding at
September 
30, 2019
     12,465,806        1.95        7.27      $ —    
    
 
 
                      
 
 
 
Vested and exercisable at
Septem
ber 
30, 2019
     5,901,063        3.35        5.27      $ —    
    
 
 
                      
 
 
 
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

September 30,
 
  
Nine Months Ended

September 30,
 
 
  
2019
 
 
2018
 
  
2019
 
 
2018
 
Risk free interest rate
  
 
1.58
 
 
—  
 
  
 
2.35
 
 
2.57
Expected dividend yield
  
 
—  
 
 
 
—  
 
  
 
—  
 
 
 
—  
 
Expected term (in years)
  
 
5.58
 
 
 
—  
 
  
 
6.06
 
 
 
6.02
 
Expected volatility
  
 
90.6
 
 
—  
 
  
 
89.7
 
 
82.3