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Equity Incentive Plans (Tables)
9 Months Ended
Sep. 30, 2020
Share-based Payment Arrangement [Abstract]  
Summary of Stock Option Activity
The following table summarizes stock option activity during the nine months ended September 30, 2020:
Shares Subject to
Options Outstanding
Weighted-
Average
 
SharesWeighted-
Average
Exercise
Price
Remaining
Contractual
Life
(Years)
Aggregate
Intrinsic Value
(in thousands)
Outstanding as of December 31, 20198,538,060 $13.67 9.0$35,385 
Options granted2,540,122 $14.02 
Option exercised(76,275)$3.73 
Options forfeited/cancelled(735,012)$13.61 
Outstanding as of September 30, 202010,266,895 $13.83 8.4$19,221 
Options vested and exercisable as of September 30, 20203,274,782 $12.57 7.7$10,026 
Summary of Restricted Stock Activity
The summary of the Company’s restricted stock activity is as follows:
Number of
Restricted
Stock Units
Outstanding
Weighted-
Average
Grant Date
Fair Value
Nonvested at December 31, 20194,648,526 $3.98 
Granted1,176,340 $11.94 
Vested(1,213,911)$3.71 
Forfeited(79,957)$12.95 
Nonvested at September 30, 20204,530,998 $5.96 
Stock-Based Compensation Expense Reported in Condensed Consolidated Statements of Operations
Stock-based compensation expense has been reported in the Company’s condensed consolidated statements of operations as follows (in thousands):
Three months ended September 30,Nine months ended September 30,
2020201920202019
Research and development$4,726 $2,727 $14,094 $6,483 
General and administrative4,197 3,001 11,973 7,474 
Total stock-based compensation$8,923 $5,728 $26,067 $13,957