Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.20.1
Stock-Based Compensation (Tables)
9 Months Ended
Apr. 30, 2020
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, 2020

   

Nine Months Ended

April 30, 2019

 
Expected term (years)     5.00–6.50 years       5.00–6.50 years  
Risk-free interest rate     1.35 – 1.70 %     2.31 – 3.09 %
Volatility     80.93 – 83.66 %     72.88 –82.77 %
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, 2020:

 

          Weighted  
          Average  
          Exercise  
    Options     Price  
Outstanding - July 31, 2019     921,572     $ 12.63  
Granted     5,050     $ 1.98  
Forfeited/Cancelled     (911,622 )   $ 12.67  
Outstanding – April 30, 2020     15,000     $ 6.34  
Options vested and expected to vest – April 30, 2020     15,000     $ 6.34  
Options Exercisable – April 30, 2020     12,502     $ 6.29
Summary of Common Stock Reserved for Future Issuance

The following table summarizes all common stock reserved for future issuance at April 30, 2020:

 

Common Stock options outstanding (within the 2011 Plan and outside of the terms of the 2011 Plan)     15,000  
Common Stock reserved for outstanding restricted stock units     41,456  
Common Stock authorized for future grant under the 2011 Plan     767,257  
Common Stock reserved for warrant exercises     3,114,288  
Commons Stock reserved for future ESPP issuance     34,767  
Total common stock reserved for future issuance     3,972,768