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Retirement Plan
6 Months Ended
Jun. 30, 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 and six months ended June 30, 2018, the Company recognized $0.1 million and $0.2 million, respectively, of expense related to its contributions to the 401(k) plan.

During the three and six months ended June 30, 2017, the Company recognized less than $0.1 million and $0.1 million, respectively, of expense related to its contributions to the SIMPLE IRA plan.