Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.19.3.a.u2
Stock-Based Compensation (Tables)
3 Months Ended
Oct. 31, 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:

 

    Three Months Ended
October 31, 2019
    Three Months Ended
October 31, 2018
 
Expected term (years)     5.00–6.50 years       5.00–6.50 years  
Risk-free interest rate     1.35 – 1.57 %     2.68 – 3.08 %
Volatility     80.93 – 83.66 %     72.88 –81.80  %
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 three months ended October 31, 2019:

 

          Weighted  
          Average  
          Exercise  
    Options     Price  
Outstanding - July 31, 2019     921,572     $ 12.63  
Granted     4,900     $ 1.97  
Forfeited/Cancelled     (33,088 )   $ 15.46  
Outstanding – October 31, 2019     893,384     $ 12.47  
Exercisable – October 31, 2019     684,173     $ 13.61  

Summary of Common Stock Reserved for Future Issuance

The following table summarizes all common stock reserved for future issuance at October 31, 2019:

 

Common Stock options outstanding (within the 2011 Plan and outside of the terms of the 2011 Plan)     893,384  
Common Stock reserved for restricted stock unit release     66,258  
Common Stock authorized for future grant under the 2011 Plan     131,373  
Common Stock reserved for warrant exercise     3,631,953  
Commons Stock reserved for future ESPP issuance     37,608  
Total common stock reserved for future issuance     4,760,576