Quarterly report pursuant to Section 13 or 15(d)

Share Based Compensation (Tables)

v3.7.0.1
Share Based Compensation (Tables)
3 Months Ended
Jan. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Allocation of Base Salary

The table below reflects the purchases of each Executive:

 

    ANNUALIZED                          
    Annual Amount     For the Three Months Ended January 31, 2017  
    to be Purchased     Gross Purchase     Net Purchase  
Executive   $     $     # of shares     $     # of shares  
Daniel J. O’Connor   $ 54,547     $ 13,627       1,713     $ 10,644       1,335  
Robert G. Petit   $ 33,061     $ 8,212       1,032     $ 6,699       842  
Sara M. Bonstein   $ 29,261     $ 7,333       922     $ 5,033       623  

Summary of RSU Activity and Related Information

A summary of the Company’s RSU activity and related information for the three months ended January 31, 2017 is as follows:

 

    Number of     Weighted-Average  
    RSUs     Grant Date Fair Value  
             
Balance at October 31, 2016:     719,448     $ 10.77  
Granted     487,282     $ 8.35  
Vested     (87,235 )   $ 8.62  
Cancelled     (8,436 )   $ 8.31  
Balance at January 31, 2017     1,111,059     $ 9.89  

Summary of Changes in Stock Option Plan

A summary of changes in the stock option plan for the three months ended January 31, 2017 is as follows:

 

    Number of     Weighted-Average  
    Options     Exercise Price  
Outstanding at October 31, 2016:     3,351,795     $ 13.31  
Granted     556,952     $ 7.71  
Exercised     -     $ -  
Expired     (11,189 )   $ 17.88  
Outstanding at January 31, 2017     3,897,558     $ 12.50  
Vested and Exercisable at January 31, 2017     1,800,252     $ 13.46  

Summary of Fair Value of Stock Options Granted of BSM

In determining the fair value of the stock options granted during the three months ended January 31, 2017 and 2016, the Company used the following inputs in its BSM:

 

    Three Months Ended January 31,  
    2017     2016  
             
Expected Term     5.50-6.50 years       5.51-6.51 years  
Expected Volatility     107.07%-110.93 %     109.23%-115.25 %
Expected Dividends     0 %     0 %
Risk Free Interest Rate     1.26-1.58 %     1.65-2.00 %

Summary of Share-based Compensation Expense

The following table summarizes share-based compensation expense included in the Statement of Operations by expense category for the three months ended January 31, 2017 and 2016, respectively:

 

    Three Months Ended January 31,  
    2017     2016  
Research and development   $ 1,222,483     $ 5,106,640  
General and administrative     3,887,942       4,422,368  
Total   $ 5,110,425     $ 9,529,008