Quarterly report pursuant to Section 13 or 15(d)

Share-based compensation

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Share-based compensation
9 Months Ended
Sep. 30, 2017
Share-based compensation  
Share-based compensation

 

Note 10 — Share-based compensation

 

The following table shows the total share-based compensation expense included in the unaudited consolidated statements of operations (thousands):

 

 

 

Three months ended
September 30,

 

Nine months ended
September 30,

 

 

 

2017

 

2016

 

2017

 

2016

 

Research and development

 

$

1,683

 

$

1,170

 

$

3,912

 

$

3,438

 

General and administrative

 

1,516

 

1,116

 

4,044

 

3,387

 

 

 

 

 

 

 

 

 

 

 

 

 

$

3,199

 

$

2,286

 

$

7,956

 

$

6,825

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

There were 8,756,211 and 2,414,576 options over ordinary shares granted in the three months ended September 30, 2017 and 2016, respectively, with a weighted average fair value of $0.34 and $0.74, respectively.  There were 28,959,363 and 17,758,373 options over ordinary shares granted in the nine months ended September 30, 2017 and 2016, respectively, with a weighted average fair value of $0.34 and $0.74, respectively. There were 74,145,505 and 49,237,290 share options outstanding at September 30, 2017 and December 31, 2016.

 

At September 30, 2017, there were 3,224,600 share options granted to nonemployees outstanding.  Share-based compensation expense relating to non-employee options was an expense of $297,000 and a benefit of $24,000 in the three months ended September 30, 2017 and 2016, respectively, and an expense of $401,000 and a benefit of $139,000 in the nine months ended September 30, 2017 and 2016, respectively.