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Share-based compensation (Tables) | 6 Months Ended
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Jun. 30, 2020
Share-based compensation |
Schedule of assumptions used to estimate the fair values of share options granted | The following table presents the assumptions used to estimate the fair values of the share options granted in the periods presented:
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Six months ended June 30, |
​ |  | 2019 |  | 2020 |
​ | ​ | (Unaudited) | ​ | ​ |
Risk-free rate of return |  | 1.8%-2.5% | ​ | 0.4%-0.8% | ​
Contractual life of option |  | 10 years | ​ | 10 years | ​
Expected term |  | 6 or 6.5 years | ​ | 6 or 6.5 years | ​
Estimated volatility rate |  | 70% | ​ | 70% | ​
Expected dividend yield |  | 0% | ​ | 0% | ​
Summary of option activity | A summary of option activity under the Plan during the six months ended June 30, 2019 and 2020 is presented below:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Weighted | ​ | ​
​ | ​ | ​ | ​ | Weighted | ​ | average | ​ | ​
​ | ​ | Number of | ​ | average exercise | ​ | remaining | ​ | Aggregate
​ |  | options |  | price |  | contractual term |  | intrinsic value
​ | ​ | ​ | ​ | $ | ​ | Years | ​ | $
Outstanding at December 31, 2018 |  | 8,761,735 | ​ | 7.47 | ​ | 7.80 | ​ | 138,009,758
Granted (unaudited) |  | 649,193 | ​ | 28.40 | ​ | — | ​ | —
Exercised (unaudited) |  | (137,177) | ​ | 2.21 | ​ | — | ​ | —
Forfeited (unaudited) |  | (18,141) | ​ | 23.73 | ​ | — | ​ | —
Outstanding at June 30, 2019 (unaudited) |  | 9,255,610 | ​ | 8.97 | ​ | 7.49 | ​ | 189,991,245
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Outstanding at December 31, 2019 |  | 9,122,980 | ​ | 10.73 | ​ | 7.16 | ​ | 281,562,301
Granted |  | 960,878 | ​ | 52.80 | ​ | — | ​ | —
Exercised |  | (228,891) | ​ | 13.44 | ​ | — | ​ | —
Forfeited |  | (46,406) | ​ | 31.73 | ​ | — | ​ | —
Outstanding at June 30, 2020 |  | 9,808,561 | ​ | 14.69 | ​ | 6.95 | ​ | 661,528,948
Vested and Exercisable as of June 30, 2020 |  | 5,079,377 | ​ | 4.51 | ​ | 5.86 | ​ | 394,282,051
Vested or expected to vest as of June 30, 2020 |  | 9,808,561 | ​ | 14.69 | ​ | 6.95 | ​ | 661,528,948
Allocation of compensation expense related to option | ​
​ | ​ | ​ | ​ | ​
​ |  | Six months ended June 30,
​ | ​ | 2019 | ​ | 2020
​ | ​ | $ | ​ | $
​ | ​ | (Unaudited) |  | ​
Selling, general and administrative | ​ | 3,030 | ​ | 5,548
Research and development | ​ | 3,617 | ​ | 4,807
Total | ​ | 6,647 | ​ | 10,355
Summary of non-vested restricted share activity | The following table summarized the Group’s non-vested restricted share activity during the six months ended June 30, 2020:
​ | ​ | ​ | ​ | ​
​ | ​ | ​ |  | Weighted
​ | ​ | Numbers | ​ | average grant
​ | ​ | of non-vested | ​ | date
​ |  | restricted shares |  | fair value
​ | ​ | ​ |  | $
Non-vested as of December 31, 2019 |  | 743,268 | ​ | 22.45
Granted |  | 95,000 | ​ | 57.12
Vested |  | (116,200) | ​ | 24.43
Forfeited |  | (12,000) | ​ | 20.98
Non-vested as of June 30, 2020 |  | 710,068 | ​ | 26.79
Allocation of compensation expense related to restricted shares | ​
​ | ​ | ​ | ​ | ​
​ | ​ | Six months ended June 30,
​ |  | 2019 |  | 2020
​ | ​ | $ | ​ | $
​ | ​ | (Unaudited) |  | ​
Selling, general and administrative | ​ | 1,843 | ​ | 2,114
Research and development | ​ | 804 | ​ | 958
Total | ​ | 2,647 | ​ | 3,072

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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=116856206&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=116856206&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=116856206&loc=d3e5070-113901 + Details
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