Quarterly report pursuant to Section 13 or 15(d)

Share-Based Compensation (Tables)

v3.20.2
Share-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2020
Summary of Assumptions Used to Determine Fair Value of Options

The range of assumptions that the Company used to determine the grant date fair value of employee and director options granted were as follows:

 

 

 

Six Months Ended June 30,

 

 

2020

 

2019

Volatility

 

90.3% - 99.5%

 

68.9% - 70.2%

Expected term in years

 

5.5 - 6.25

 

5.5 - 6.25

Dividend rate

 

0%

 

0%

Risk-free interest rate

 

0.18% - 0.78%

 

1.96% - 2.57%

Share price

 

$1.68 - $2.03

 

$5.80 - $6.80

Fair value of option on grant date

 

$1.27 - $1.52

 

$3.74 - $4.41
Summary of Number of Options Outstanding and Weighted-average Exercise Price

The following table summarizes the number of options outstanding and the weighted-average exercise price as of June 30, 2020:

 

 

Number of

Shares

 

 

Weighted

Average Exercise

Price

 

 

Weighted

Average

Remaining

Contractual Life

in Years

 

 

Aggregate

Intrinsic

Value

(in thousands)

 

Options outstanding December 31, 2019

 

 

1,150,270

 

 

$

7.92

 

 

 

8.59

 

 

$

254

 

Granted

 

 

64,840

 

 

 

1.69

 

 

 

 

 

 

 

 

 

Exercised

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(25,845

)

 

 

9.16

 

 

 

 

 

 

 

 

 

Expired

 

 

(20,374

)

 

 

7.99

 

 

 

 

 

 

 

 

 

Options outstanding June 30, 2020

 

 

1,168,891

 

 

 

7.55

 

 

 

7.59

 

 

 

—

 

Exercisable at June 30, 2020 (unaudited)

 

 

618,370

 

 

 

7.97

 

 

 

6.84

 

 

 

—

 
Summary of Number of RSUs Outstanding and Weighted-average Grant Date Fair Value of RSUs

The table below shows the number of RSUs outstanding covering an equal number of the Company’s ordinary shares and the weighted-average grant date fair value of the RSUs outstanding as of June 30, 2020:

 

 

Number of

Shares

 

 

Weighted Average

Grant Date Fair

Value per Share

 

RSUs outstanding December 31, 2019

 

 

31,367

 

 

$

7.01

 

Granted

 

 

—

 

 

 

 

 

Shares vested

 

 

(11,406

)

 

 

7.01

 

Forfeited

 

 

(5,703

)

 

 

7.01

 

RSUs outstanding June 30, 2020

 

 

14,258

 

 

 

7.01

 

 
Summary of Share-based Compensation Expense

The Company’s share-based compensation expense was classified in the condensed consolidated statements of operations and comprehensive loss as follows:

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

 

 

(unaudited)

 

 

(unaudited)

 

Research and development expense

 

$

367

 

 

$

196

 

 

$

580

 

 

$

359

 

General and administrative expense

 

 

819

 

 

 

377

 

 

 

1,203

 

 

 

754

 
Performance RSUs  
Summary of Number of RSUs Outstanding and Weighted-average Grant Date Fair Value of RSUs

The table below shows the number of Performance RSUs outstanding covering an equal number of the Company’s ordinary shares and the weighted-average grant date fair value of the Performance RSUs outstanding as of June 30, 2020:

 

 

 

Number of

Shares

 

 

Weighted Average

Grant Date Fair

Value per Share

 

Performance RSUs outstanding December 31, 2019

 

 

50,000

 

 

$

8.21

 

Granted

 

 

1,079,000

 

 

 

2.04

 

Shares vested

 

 

—

 

 

 

 

 

Forfeited

 

 

(34,000

)

 

 

2.58

 

Performance RSUs outstanding June 30, 2020

 

 

1,095,000

 

 

 

2.30