Quarterly report pursuant to Section 13 or 15(d)

Stock Options (Tables)

v3.7.0.1
Stock Options (Tables)
 6 Months Ended
Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Assumptions Used Principally in Determining Fair Value of Options Granted

The assumptions used principally in determining the fair value of options granted were as follows:

 

    Six Months Ended June 30,  
    2017     2016  
Risk free interest rate     1.95 %     1.73 %
Expected dividend yield     0 %     0 %
Expected term in years     6.25       6.64  
Expected volatility     84.9 %     90.6 %

Summary of Option Activity

A summary of option activity for the six months ended June 30, 2017 and is presented below:

 

Options   Shares     Weighted
Average
Exercise
Price 		   

Weighted
Average
Remaining

Contractual
Term in
Years

     Aggregate
Intrinsic
Value 		 
Outstanding at December 31, 2016     6,610,179     $ 2.54                  
Granted     1,328,000       8.59                  
Exercised     (237,317 )     0.39             $    
Forfeited     —       —                  
Outstanding at June 30, 2017     7,700,862     $ 3.65       8.16     $ 25,487,690  
Vested at June 30, 2017     3,596,416     $ 1.36       7.27     $ 17,805,225