Molecular Templates, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Stock Based Compensation (Tables)

Stock Based Compensation (Tables)

3 Months Ended

Mar. 31, 2020

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock-based compensation expense, which consists of the compensation cost for employee stock options and the value of options issued to non-employees for services rendered, was allocated to research and development and general and administrative in the consolidated statements of operations as follows (in thousands):

	Three Months Ended March 31,
	2020		2019
Research and development	$	1,128	$	453
General and administrative		1,064		908
Total stock-based compensation	$	2,192	$	1,361

Weighted-Average Fair Value Valuation Assumptions

The fair value of employee stock options was estimated using the following weighted-average assumptions:

	Three Months Ended March 31,
	2020			2019
Employee Stock Options:
Risk-free interest rate		1.83	%		2.59	%
Expected term (in years)		6.08			6.08
Dividend yield		—			—
Volatility		110.00	%		109.00	%
Weighted-average fair value of stock options granted	$	12.13		$	3.93

Stock Option Activity Under Equity Incentive Plan

The following table summarizes stock option activity under the Company’s equity incentive plans:

Options	Number of Shares			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term		Aggregate Intrinsic Value (in millions)
Outstanding at December 31, 2019		4,743,990		$	6.37		8.2	$	36.5
Granted		1,713,706		$	14.51
Exercised		(114,777	)	$	2.62
Forfeitures		(48,457	)	$	11.07
Outstanding at March 31, 2020		6,294,462		$	8.62		8.5	$	31.8
Exercisable at March 31, 2020		2,028,825		$	6.17		7.2	$	14.8