Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation (Tables)

v3.20.2
Stock-Based Compensation (Tables)
12 Months Ended
Jul. 31, 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:

 

   

Year Ended

July 31, 2020

   

Year Ended

July 31, 2019

 
Expected term (years)     5.00–6.50 years       5.00–6.50 years  
Risk-free interest rate     0.30 -1.70 %     1.74 – 3.09 %
Volatility     80.93 – 87.95 %     72.88 –83.87 %
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 years ended July 31, 2020 and 2019:

 

          Weighted  
          Average  
          Exercise  
    Options     Price  
Outstanding - July 31, 2018     891,252     $ 15.00  
Granted     302,749     $ 7.88  
Exercised     (43,029 )   $ 13.16  
Forfeited/Cancelled     (228,700 )   $ 15.32  
Expired     (700 )   $ 57.60  
Outstanding - July 31, 2019     921,572     $ 12.63  
Granted     1,463,982     $ 1.60  
Exercised     -     $ -  
Forfeited/Cancelled     (942,698 )   $ 12.31  
Outstanding and expected to vest – July 31, 2020     1,442,856     $ 1.65  
Exercisable – July 31, 2020     474,933     $ 1.72  

Summary of Common Stock Reserved for Future Issuance

The following table summarizes all common stock reserved for future issuance at July 31, 2020:

 

Common Stock options outstanding (within the 2011 Plan and outside of the terms of the 2011 Plan)     1,442,856  
Common Stock reserved for restricted stock unit release     34,914  
Common Stock authorized for future grant under the 2011 Plan     1,616,901  
Common Stock reserved for warrant exercise     3,114,288  
Commons Stock reserved for future ESPP issuance     33,409  
Total common stock reserved for future issuance     6,242,368