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Retirement Plan
3 Months Ended
Mar. 31, 2018
Retirement Benefits [Abstract]  
Retirement Plan

8. Retirement Plan

Effective January 1, 2018, the Company adopted a 401(k) plan for its employees. Under the terms of the plan, the Company contributes 3% of an employee’s annual base salary, up to a maximum of the annual Internal Revenue Service compensation limits, for all full-time employees. The Company terminated its Savings Incentive Match Plan, or SIMPLE IRA as of December 31, 2017.

During the three months ended March 31, 2018, the Company recognized $0.1 million of expense related to its contributions to the 401(k) plan.

During the three months ended March 31, 2017, the Company recognized less than $0.1 million of expense related to its contributions to the SIMPLE IRA plan.