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Stock Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2018
Summary of Option Activity Under Company's Equity Incentive Plans | The following table summarizes stock option activity under the Company’s equity incentive plans and related information:
|  | Number of Shares Underlying Outstanding Options |  |  | Weighted- Average Exercise Price |  |  | Weighted-Average Remaining Contractual Term (Years) |  |  | Aggregate Intrinsic Value (thousands) |
Outstanding — December 31, 2016 |  |  | 140,990 |  |  | $ | 128.25 |  |  |  | 3.93 |  |  |  | — |
Options granted |  |  | 742,000 |  |  | $ | 4.56 |  |  |  |  |  |  |  |  |
Options forfeited |  |  | (61,249 | ) |  | $ | 165.63 |  |  |  |  |  |  |  |  |
Outstanding — December 31, 2017 |  |  | 821,741 |  |  | $ | 13.69 |  |  |  | 9.17 |  |  | $ | 6,376 |
Options granted |  |  | 612,050 |  |  | $ | 13.13 |  |  |  |  |  |  |  |  |
Options exercised |  |  | (12,716 | ) |  | $ | 4.17 |  |  |  |  |  |  | $ | 213 |
Options canceled/forfeited |  |  | (43,315 | ) |  | $ | 7.76 |  |  |  |  |  |  |  |  |
Options expired |  |  | (15,783 | ) |  | $ | 158.81 |  |  |  |  |  |  |  |  |
Outstanding — December 31, 2018 |  |  | 1,361,977 |  |  | $ | 12.04 |  |  |  | 8.71 |  |  | $ | 2,294 |
Exercisable — December 31, 2018 |  |  | 414,584 |  |  | $ | 17.98 |  |  |  |  |  |  |  |  |
Vested and expected to vest — December 31, 2018 |  |  | 1,361,977 |  |  | $ | 12.04 |  |  |  |  |  |  |  |  |
Shares available to be granted — December 31, 2018 |  |  | 1,295,144 |  |  |  |  |  |  |  |  |  |  |  |  |
Summary of Stock-Based Compensation Recognized | Total stock-based compensation recognized was as follows (in thousands):
|  | Year Ended December 31, |
|  | 2018 |  |  | 2017 |
Research and development |  | $ | 590 |  |  | $ | 164 |
General and administrative (1) |  |  | 1,990 |  |  |  | 699 |
Total stock-based compensation |  | $ | 2,580 |  |  | $ | 863 |
| (1) | 2018 includes $0.1 million in modification stock-based compensation expense related to a Board member’s separation agreement.
As of December 31, 2018, the Company had unrecognized employee stock-based compensation expense of $6.5 million, related to unvested stock option awards, which is expected to be recognized over an estimated weighted-average period of 2.78 years.
Employee Stock Option |
Summary of Weighted Average Valuation Assumptions Used to Estimate Fair Value |
|  | Year Ended December 31, |
|  | 2018 |  |  | 2017 |
Employee Stock Options: |  |  |  |  |  |  |  |
Expected term (in years) |  |  | 6.04 |  |  |  | 6.03 |
Risk-free interest rate |  |  | 2.67 | % |  |  | 2.03 | %
Dividend yield |  |  | — |  |  |  | — |
Volatility |  |  | 92.61 | % |  |  | 110.29 | %
Non Employee Stock Option |
Summary of Weighted Average Valuation Assumptions Used to Estimate Fair Value | The estimated grant-date fair value of the nonemployee stock options was determined using the Black-Scholes valuation model and the following assumptions:
|  | Year Ended December 31, |
|  | 2018 |  | 2017 |
Non-Employee Stock Options: |  |  |  |  |  |
Contractual Life (in years) |  | N/A |  |  | 9 |
Risk-free interest rate |  | N/A |  |  | 2.35 | %
Dividend yield |  | N/A |  |  | — |
Volatility |  | N/A |  |  | 111.55 | %

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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=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 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=109197908&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=109197908&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=109197908&loc=d3e5070-113901 + Details
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