Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

v3.20.1
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2019
Accounting Policies [Abstract]  
Schedule of Black-Scholes Option Pricing Model Assumptions The fair value of stock options is estimated using the Black-Scholes model with the assumptions noted in the following table. The expected life of stock options is based on the simplified method. The expected volatility of stock options is based upon the historical volatility of the Company and a number of publicly traded companies in similar stages of clinical development. The risk-free interest rate is based on the average yield of five- and seven-year U.S. Treasury Bills as of the valuation date.

 

 

 

Year Ended December 31,

 

 

 

2019

 

 

2018

 

 

2017

 

Assumptions

 

 

 

 

 

 

 

 

 

 

 

 

Risk-free interest rate

 

1.82% - 2.50%

 

 

2.55% - 3.03%

 

 

1.83% - 2.13%

 

Expected dividend yield

 

0%

 

 

0%

 

 

0%

 

Expected volatility

 

105% - 119%

 

 

94% - 100%

 

 

93% - 97%

 

Expected term (in years)

 

5.5 - 6.1

 

 

5.5 - 6.1

 

 

5.5 - 6.1

 

Summary of Outstanding Potentially Dilutive Securities Excluded in Calculation of Diluted Net Loss Per Share

The following table sets forth the outstanding potentially dilutive securities that have been excluded in the calculation of diluted net loss per share because to do so would be anti-dilutive (in thousands):

 

 

 

December 31,

 

 

 

2019

 

 

2018

 

 

2017

 

Warrants to purchase common stock

 

 

13

 

 

 

13

 

 

 

150

 

Common stock options issued and outstanding

 

 

1,299

 

 

 

5,385

 

 

 

4,826

 

RSUs outstanding

 

 

1,453

 

 

 

 

 

 

 

Shares issuable upon conversion of convertible note payable

 

 

 

 

 

 

 

 

2,965

 

ESPP shares pending issuance

 

 

 

 

 

8

 

 

 

5

 

Total

 

 

2,765

 

 

 

5,406

 

 

 

7,946