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Stockholders' Equity (Tables)

3 Months Ended

Mar. 31, 2020

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

A summary of the Company’s unvested shares is as follows:

Balance at December 31, 2019	4,236,248
Share vesting	(425,295	)
Balance at March 31, 2020	3,810,953

Summary of Common Stock Reserved for Future Issuance

Common stock reserved for future issuance consists of the following:

	March 31, 2020
Common stock warrants		7,604,446
Stock options outstanding		1,534,755
Shares available for issuance under the 2019 Incentive Plan		3,724,353
Shares available for issuance under the ESPP Plan		559,645
Balance at March 31, 2020		13,423,199

Summary of Stock Option Activity

A summary of the Company’s stock option activity and related information is as follows:

	Options Outstanding		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term		Aggregate Intrinsic Value (in thousands)
Balance at December 31, 2019		1,400,528	$	9.10		9.69	$	30,874
Options granted		134,227		34.39		—		—
Options exercised and shares vested		—		—		—		—
Options cancelled		—		—		—		—
Balance at March 31, 2020		1,534,755	$	11.31		9.48	$	22,273
Options exercisable as of March 31, 2020		—		—		—		—

Summary of Weighted-Average Assumptions Used to Estimate Fair Value of Stock Options Granted

The weighted-average assumptions used to estimate the fair value of stock options using the Black-Scholes option valuation model were as follows:

	Three Months Ended March 31,
	2020			2019
Assumptions:
Expected term (in years)		6.08			—
Expected volatility		62.63	%		—
Risk free interest rate		1.19	%		—
Dividend yield		—			—

Summary of Stock-Based Compensation Expense

Stock-based compensation expense recognized for all equity awards, including founder stock, has been reported in the statements of operations as follows (in thousands):

	Three Months Ended March 31,
	2020		2019
Research and development expense	$	114	$	—
General and administrative expense		449		—
Total	$	563	$	—