Quarterly report pursuant to Section 13 or 15(d)

Stock Option and Incentive Plans (Tables)

v3.20.2
Stock Option and Incentive Plans (Tables)
6 Months Ended
Jun. 30, 2020
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 June 30, 2020, 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, 2019
     1,216,338      $ 19.75        
Granted
     769,000        9.87        
Exercised
     (750      4.50        
Expired
     (30,917      34.13        
Forfeited
     (36,022      14.47        
  
 
 
          
Options outstanding at June 30, 2020
     1,917,649      $ 15.66        7.94      $ 1,295,547  
  
 
 
          
 
 
 
Vested and exercisable at June 30, 2020
     805,029      $ 25.91        6.11      $ 365,275  
  
 
 
          
 
 
 
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,
 
    
2020
   
2019
   
2020
   
2019
 
Risk free interest rate
     0.33     2.28     1.17     2.37
Expected dividend yield
     —         —         —         —    
Expected term (in years)
     5.86       6.09       6.03       6.08  
Expected volatility
     97.1     90.0     94.5     89.7