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Stock-Based Compensation (Tables) | 3 Months Ended
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Mar. 31, 2019
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] |
Summary of Option Activity | The following is a summary of option activity under the 2015 Plan and 2005 Plan for the three months ended March 31, 2019:
|  | 2015 Plan |  |  | 2005 Plan |
|  | Stock Options |  |  | Weighted- Average Exercise Price |  |  | Stock Options |  |  | Weighted- Average Exercise Price |
Outstanding at January 1, 2019 |  |  | 47,856,238 |  |  | $ | 3.12 |  |  |  | 11,653,372 |  |  | $ | 3.29 |
Granted |  |  | 196,060 |  |  | $ | 1.78 |  |  |  | — |  |  | $ | — |
Exercised |  |  | (30,267 | ) |  | $ | 1.37 |  |  |  | (30,000 | ) |  | $ | 0.56 |
Canceled |  |  | (915,624 | ) |  | $ | 4.81 |  |  |  | (433,400 | ) |  | $ | 4.63 |
Outstanding at March 31, 2019 |  |  | 47,106,407 |  |  | $ | 3.08 |  |  |  | 11,189,972 |  |  | $ | 3.24 |
Shares exercisable at March 31, 2019 |  |  | 17,762,576 |  |  | $ | 4.70 |  |  |  | 11,189,972 |  |  | $ | 3.24 |
Shares available for grant at March 31, 2019 |  |  | 5,576,007 |  |  |  |  |  |  |  |  |  |  |  |  |
Assumptions used to Estimate Grant Date Fair Value of Stock Options granted using Black-Scholes Option-Pricing Model | The fair value of stock options granted under the 2015 Plan was estimated at the date of grant using the Black-Scholes option-pricing model with the following assumptions:
|  | Three Months Ended March 31, |
|  | 2019 |  |  | 2018 |
Weighted-average Black-Scholes fair value of stock options granted |  | $ | 1.38 |  |  | $ | 1.50 |
Risk-free interest rate |  |  | 2.43%-2.55% |  |  |  | 2.26%-2.54% |
Dividend yield |  |  | 0% |  |  |  | 0% |
Volatility |  |  | 111.65%-126.76% |  |  |  | 113.98%-114.12% |
Expected term (in years) |  |  | 4.06-4.50 |  |  |  | 4.12-4.14 |
Expected forfeiture rate |  |  | 0% |  |  |  | 0% |
Summary of Restricted Stock Awards Activity | The following is a summary of restricted stock units activity for the three months ended March 31, 2019:
|  | Number of Shares |  |  | Per Share Weighted- Average Grant-Date Fair Value |
Outstanding and Unvested at January 1, 2019 |  |  | ― |  |  | $ | ― |
Restricted stock units granted |  |  | 2,964,591 |  |  | $ | 0.52 |
Restricted stock units vested |  |  | ― |  |  | $ | ― |
Restricted stock units forfeited |  |  | ― |  |  | $ | ― |
Outstanding and Unvested at March 31, 2019 |  |  | 2,964,591 |  |  | $ | 0.52 |
Stock-Based Compensation Expense | The Company recorded all stock-based compensation expense in the consolidated statements of operations as follows (in thousands):
|  | Three Months Ended March 31, |
|  | 2019 |  |  | 2018 |
Research and development |  | $ | 3,179 |  |  | $ | 3,098 |
General and administrative |  |  | 2,379 |  |  |  | 2,147 |
Total stock-based compensation expense |  | $ | 5,558 |  |  | $ | 5,245 |
Employee Stock Purchase Plan [Member] |
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] |
Assumptions used to Estimate Grant Date Fair Value of Stock Options granted using Black-Scholes Option-Pricing Model | The ESPP is considered compensatory for financial reporting purposes. As such, the fair value of ESPP shares was estimated at the date of grant using the Black-Scholes option-pricing model with the following assumptions:
|  | Three Months Ended March 31, |
|  | 2019 |  |  | 2018 |
Range of Black-Scholes fair value of ESPP shares granted |  |  | $0.36-$1.74 |  |  |  | $0.45-$3.53 |
Risk-free interest rate |  |  | 1.20%-2.50% |  |  |  | 0.66%-1.79% |
Dividend yield |  |  | 0% |  |  |  | 0% |
Volatility |  |  | 52.19%-171.60% |  |  |  | 59.84%-203.83% |
Expected term (in years) |  |  | 0.5-2.0 |  |  |  | 0.5-2.0 |
Expected forfeiture rate |  |  | 0% |  |  |  | 0% |

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- Definition Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed. + 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=109197908&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=109197908&loc=d3e5047-113901 + Details
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