SEC Filings

S-1
AVEXIS, INC. filed this Form S-1 on 01/15/2016
Entire Document
 

Table of Contents


AveXis, Inc.

Notes to Consolidated Financial Statements (Continued)

12. Stock-based Compensation (Continued)

          The following table summarizes stock option activity:

 
   
   
  Weighted Average  
 
 
Number of
Shares
 
Weighted
Average
Exercise
Price
 
Remaining
Contractual
Life (Years)
 
Aggregate
Intrinsic
Value
 

Outstanding at December 31, 2013

                  $  

Granted

    363,400   $ 3.44              

Exercised

      $              

Cancelled or forfeited

    (20,500 ) $ 3.41              

Outstanding at December 31, 2014

   
342,900
 
$

3.44
   
9.44
 
$

2,754,683
 

Granted (unaudited)

    917,479   $ 23.28              

Exercised (unaudited)

    (100,000 ) $ 3.41              

Cancelled or forfeited (unaudited)

    (12,900 ) $ 3.41              

Outstanding at September 30, 2015 (unaudited)

   
1,147,479
 
$

23.28
   
9.54
 
$

6,622,809
 

Exercisable at December 31, 2014

    186,900   $ 3.46     9.44   $ 1,497,323  

Vested at December 31, 2014 and expected to vest

    186,900   $ 3.46     9.44   $ 1,497,323  

Exercisable at September 30, 2015 (unaudited)

   
172,000
 
$

3.46
   
8.68
 
$

3,718,149
 

Vested and expected to vest at September 30, 2015 (unaudited)        

   
172,000
 
$

3.46
   
8.68
 
$

3,718,149
 

(a)
The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying options and the estimated fair value of the common stock for the options that were in-the-money at December 31, 2014 and September 30, 2015 (unaudited).

          As of December 31, 2014 and September 30, 2015 (unaudited), 666,226 and 307,922 shares of common stock, respectively, were available for future grants under the Plan. During the year ended December 31, 2014 and the nine months ended September 30, 2015 (unaudited), the total number of stock options exercised was 0 and 100,000, respectively, resulting in total proceeds of $0 and $341,000 respectively. The total intrinsic value of options exercised during the year ended December 31, 2014 and the nine months ended September 30, 2015 (unaudited) was $0 and $1,859,000, respectively.

          As of December 31, 2014 and September 30, 2015 (unaudited), there was $319,448 and $12,546,838, respectively, of unrecognized stock-based compensation expense related to employees' awards that is expected to be recognized over a weighted-average period of 1.4 and 1.9 years, respectively.

F-35



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