Quarterly report pursuant to Section 13 or 15(d)

Share-Based Compensation (Tables)

v2.4.0.8
Share-Based Compensation (Tables)
 3 Months Ended
Sep. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]
The following table summarizes the components of share-based compensation expense in the condensed consolidated statements of operations (in thousands):
 
 
 
Three Months Ended
 
 
 
September 30,
 
 
 
2014
 
2013
 
Research and development
 
$
20
 
$
18
 
General and administrative
 
 
233
 
 
217
 
Total
 
$
253
 
$
235
 
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]
The following table summarizes all stock option activity during the three months ended September 30, 2014:
 
 
 
 
 
 
Weighted-
 
 
 
 
 
 
Weighted-
 
average
 
 
 
 
 
 
 
 
average
 
Remaining
 
Aggregate
 
 
 
Stock
 
Exercise
 
Contractual
 
Intrinsic Value
 
 
 
Options
 
Price
 
Term (in years)
 
(in thousands)
 
Outstanding as of June 30, 2014
 
 
8,483,334
 
$
1.25
 
 
7.0
 
$
179
 
Granted
 
 
1,640,000
 
$
0.86
 
 
 
 
 
 
 
Outstanding as of September 30, 2014
 
 
10,123,334
 
$
1.18
 
 
7.3
 
$
648
 
Vested and, as of September 30, 2014, expected to vest
 
 
10,023,545
 
$
1.19
 
 
7.3
 
$
634
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Exercisable as of September 30, 2014
 
 
5,933,349
 
$
1.46
 
 
6.0
 
$
341
 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
The Company estimated the fair value of options granted using the Black-Scholes option pricing model with the following assumptions:
 
Risk-free interest rate
 
2.3
%
Dividend yield
 
0
%
Volatility
 
96.7
%
Expected term (in years)
 
9