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Share-based compensation (Tables) | 6 Months Ended
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Jun. 30, 2020
Share-based compensation |
Schedule of share based compensation expense | The Company recorded share‑based compensation expense in the following expense categories of its condensed consolidated statements of operations and comprehensive loss (in thousands):
|  | Three Months Ended |  | Six Months Ended
|  | June 30, |  | June 30,
|  | 2020 |  | 2019 |  | 2020 |  | 2019
Research and development expenses |  | $ | 522 |  | $ | 291 |  | $ | 1,195 |  | $ | 399
General and administrative expenses |  |  | 797 |  |  | 614 |  |  | 2,245 |  |  | 782
|  | $ | 1,319 |  | $ | 905 |  | $ | 3,440 |  | $ | 1,181
Schedule of share option activity |
|  |  |  |  |  |  | Weighted |  |  |
|  |  |  | Weighted |  | Average |  | Aggregate
|  | Number of |  | Average |  | Contractual |  | Intrinsic
|  | Shares |  | Exercise Price |  | Term |  | Value
|  |  |  |  |  |  | (in years) |  | (in thousands)
Outstanding as of December 31, 2019 |  | 2,634,346 |  | $ | 9.57 |  | 9.04 |  | $ | 2,868
Granted |  | 1,174,434 |  |  | 10.88 |  | — |  |  | —
Exercised |  | (5,071) |  |  | 2.29 |  | — |  |  | —
Forfeited |  | (149,697) |  |  | 10.72 |  | — |  |  | —
Outstanding as of June 30, 2020 |  | 3,654,012 |  | $ | 9.91 |  | 8.94 |  | $ | 21,378
Vested and expected to vest as of June 30, 2020 |  | 3,654,012 |  | $ | 9.91 |  | 8.94 |  | $ | 21,378
Options exercisable as of June 30, 2020 |  | 1,168,098 |  | $ | 8.06 |  | 8.18 |  | $ | 9,655
Schedule of assumptions used to determine the fair value of share options granted |
|  | Three |  | Six
|  | Months |  | Months
|  | Ended |  | Ended
|  | June 30, |  | June 30,
|  | 2020 |  | 2019 |  | 2020 |  | 2019
Risk-free interest rate |  | 0.4 | % | 2.2 | % | 1.5 | % | 2.2
Expected volatility |  | 76.8 | % | 78.0 | % | 74.1 | % | 78.1
Expected dividend yield |  | — |  | — |  | — |  | —
Expected term (in years) |  | 6.1 |  | 5.8 |  | 6.0 |  | 5.9

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- Definition Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit. + 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=116856206&loc=d3e5070-113901 + Details
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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=116856206&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=116856206&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=116856206&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=116856206&loc=d3e5070-113901 + Details
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