Quarterly report pursuant to Section 13 or 15(d)

Stock Options (Tables)

v3.8.0.1
Stock Options (Tables)
9 Months Ended
Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Assumptions Used Principally in Determining Fair Value of Options Granted

The weighted average of assumptions used principally in determining the fair value of options granted to employees and non-employees were as follows:

 

   

Nine Months Ended

September 30,

 
    2017     2016  
Risk free interest rate     2.13 %     1.65 %
Expected dividend yield     0 %     0 %
Expected term in years     6.5 7     6.74  
Expected volatility     85.8 %     93.1 %

Summary of Option Activity

A summary of option activity for the nine months ended September 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     1,423,000       8.42                  
Exercised     (239,817 )     0.42                  
Forfeited     (68,583 )     6.62                  
Outstanding at September 30, 2017     7,724,779     $ 3.66       7.93     $ 29,985,612  
Vested at September 30, 2017     4,055,877     $ 1.61       7.16     $ 22,466,228