Quarterly report pursuant to Section 13 or 15(d)

Share-Based Compensation (Tables)

v3.3.0.814
Share-Based Compensation (Tables)
 3 Months Ended
Sep. 30, 2015
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,
 
 
 
2015
 
2014
 
Research and development
 
$
5
 
$
20
 
General and administrative
 
 
324
 
 
233
 
Total
 
$
329
 
$
253
 
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, 2015:
 
 
 
 
 
 
Weighted-
 
 
 
 
 
 
Weighted-
 
average
 
 
 
 
 
 
average
 
Remaining
 
Aggregate
 
 
 
Stock
 
Exercise
 
Contractual
 
Intrinsic Value
 
 
 
Options
 
Price
 
Term (in years)
 
(in thousands)
 
Outstanding as of July 1, 2015
 
 
9,523,334
 
$
1.22
 
 
6.6
 
$
1,848
 
Granted
 
 
2,550,000
 
 
1.72
 
 
 
 
 
 
 
Outstanding as of September 30, 2015
 
 
12,073,334
 
$
1.32
 
 
7.1
 
$
822
 
Vested and, as of September 30, 2015, expected to vest
 
 
11,998,520
 
$
1.32
 
 
7.1
 
$
818
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Exercisable as of September 30, 2015
 
 
7,101,692
 
$
1.36
 
 
5.7
 
$
579
 
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
 
2.13
%
Dividend yield
 
0
%
Volatility
 
112.17
%
Expected term (in years)
 
9