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Stock Based Compensation (Tables)

12 Months Ended

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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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.

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