Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.19.2
Stock-Based Compensation (Tables)
9 Months Ended
Apr. 30, 2019
Share-based Payment Arrangement [Abstract]  
Schedule of Assumptions Used to Calculate Fair Value of Stock Based Compensation

The following assumptions were used for the Black-Scholes calculation of the fair value of stock-based compensation related to stock options granted during the periods presented:

 

    Nine Months Ended
April 30, 2019
    Nine Months Ended
April 30, 2018
 
Expected term (years)     5.00 – 6.5 years       5.00 – 6.5 years  
Risk-free interest rate     2.31 – 3.09 %     1.66 – 2.81 %
Volatility     72.88 – 82.77 %     73.30 –92.0 %
Dividend yield     0 %     0 %

Summary of Stock Option Activity

The following is a summary of the Company’s 2011 Plan and non-Plan stock option activity for the nine months ended April 30, 2019:

 

          Weighted  
          Average  
          Exercise  
    Options     Price  
Outstanding - July 31, 2018     891,272     $ 15.00  
Granted     273,850     $ 8.40  
Exercised     (43,029 )   $ 13.20  
Forfeited/Cancelled     (206,115 )   $ 15.50  
Expired     (700 )   $ 57.60  
Outstanding – April 30, 2019     915,278     $ 13.00  
Exercisable – April 30, 2019     592,209     $ 14.60  

Summary of Common Stock Reserved for Future Issuance

The following table summarizes all common stock reserved for future issuance at April 30, 2019:

 

Common Stock options outstanding (within the 2011 Plan and outside of the terms of the 2011 Plan)     915,278  
Common Stock reserved for restricted stock unit release     88,114  
Common Stock authorized for future grant under the 2011 Plan     99,464  
Common Stock reserved for warrant exercise     892,890  
Common Stock reserved for future ESPP issuance     39,661  
Total Common Stock reserved for future issuance     2,035,407