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Stockholders’ Equity (Deficit) (Tables) | 6 Months Ended
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Jun. 30, 2020
Equity [Abstract] |
Summary of Preferred Stock | As of December 31, 2019, preferred stock consisted of the following (in thousands, except per share data):
Series |  | Shares Authorized |  |  | Shares Issued and Outstanding |  |  | Per Share Original Issue Price and Conversion Price |  |  | Liquidation Preference |  |  | Carrying Value |
Series A |  |  | 4,367 |  |  |  | 4,350 |  |  | $ | 2.2615 |  |  | $ | 9,838 |  |  | $ | 9,773 |
Series B |  |  | 8,108 |  |  |  | 8,108 |  |  |  | 2.8269 |  |  |  | 22,922 |  |  |  | 22,814 |
Series C |  |  | 25,580 |  |  |  | 24,809 |  |  |  | 4.2812 |  |  |  | 106,210 |  |  |  | 102,133 |
Total |  |  | 38,055 |  |  |  | 37,267 |  |  |  |  |  |  | $ | 138,970 |  |  | $ | 134,720 |
Summary of Stock Option Activity | Stock option activity for employee and nonemployee awards and related information is as follows (options in thousands):
|  | Number |  |  | Weighted- Average Exercise Price |
Outstanding at December 31, 2019 |  |  | 1,667 |  |  | $ | 1.08 |
Granted |  |  | 1,352 |  |  |  | 11.02 |
Exercised |  |  | (106 | ) |  |  | 0.44 |
Forfeited |  |  | (51 | ) |  |  | 1.24 |
Outstanding at June 30, 2020 |  |  | 2,862 |  |  | $ | 2.73 |
Schedule of Assumptions Used in Black-Scholes Option Pricing Model to Determine Fair Value of Stock Option/Unit Grants | The assumptions used in the Black-Scholes option pricing model to determine the fair value of the stock option/unit grants were as follows:
|  | Six Months Ended June 30,
|  | 2020 |  | 2019
Risk-free interest rate |  | 0.4% |  | 2.3% - 2.7%
Expected volatility |  | 91% - 92% |  | 84% - 85%
Expected term (in years) |  | 5.4 - 6.1 |  | 2.0 - 5.5
Expected dividend yield |  | —% |  | —%
Schedule of Allocated Stock-based Compensation Expense | The allocation of stock-based compensation expense was as follows (in thousands):
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Research and development expense |  | $ | 204 |  |  | $ | 7 |  |  | $ | 284 |  |  | $ | 16 |
General and administrative expense |  |  | 483 |  |  |  | 9 |  |  |  | 852 |  |  |  | 17 |
Total stock-based compensation expense |  | $ | 687 |  |  | $ | 16 |  |  | $ | 1,136 |  |  | $ | 33 |

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- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14.F) -URI http://asc.fasb.org/extlink&oid=115993241&loc=d3e301413-122809 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of temporary equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (27) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 480 -SubTopic 10 -Section S99 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=65877616&loc=d3e177068-122764 + Details
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