Quarterly report pursuant to Section 13 or 15(d)

Share Based Compensation (Tables)

v3.7.0.1
Share Based Compensation (Tables)
9 Months Ended
Jul. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of RSU Activity and Related Information

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

 

    Number of     Weighted-Average  
    RSUs     Grant Date Fair Value  
Balance at October 31, 2016:     719,448     $ 10.77  
Granted     1,579,934     $ 7.95  
Vested     (722,089 )   $ 9.03  
Cancelled     (49,600 )   $ 8.89  
Balance at July 31, 2017     1,527,693     $ 8.73  

Summary of Changes in Stock Option Plan

A summary of changes in the stock option plan for the nine months ended July 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     -     $ -  
Cancelled     (4,000 )   $ 3.42  
Expired     (11,189 )   $ 17.88  
Outstanding at July 31, 2017     3,893,558     $ 12.51  
Vested and Exercisable at July 31, 2017     2,795,826     $ 13.05  

Summary of Fair Value of Stock Options Granted of BSM

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

 

    Nine Months Ended  
    July 31, 2017     July 31, 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 and nine months ended July 31, 2017 and 2016, respectively:

 

    Three Months Ended July 31,     Nine Months Ended July 31,  
    2017     2016     2017     2016  
Research and development   $ 1,517,585     $ 1,014,034     $ 4,271,073     $ 7,088,377  
General and administrative     12,852,729       3,994,331       20,423,391       12,281,571  
Total   $ 14,370,314     $ 5,008,365     $ 24,694,464     $ 19,369,948