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Stockholders Equity (Tables)

6 Months Ended

Jun. 30, 2018

Common Stock Warrants

6/30/2018		12/31/2017
Number of Shares		Number of Shares		Exercise
Underlying Outstanding		Underlying Outstanding		Price			Expiration
Warrants		Warrants		Per Share			Date
-		236,632		$	0.33		July 18, 2018
-		301,986			0.33		January 16, 2019
-		15,250			0.33		January 30, 2019

Stock-Based Compensation Expense

		Three Months Ended June 30,						Six Months Ended June 30,
		2018			2017			2018			2017
Research and development expense		$	427,355		$	314,904		$	852,564		$	626,687
General and administrative expense			723,034			676,204			1,413,655			1,207,268
Total stock-based compensation expense		$	1,150,389		$	991,108		$	2,266,219		$	1,833,955

2003 Stock Incentive Plan

Company's Stock Option Activity

A summary of the Company’s stock option activity under the 2003 Plan for the six months ended June 30, 2018 is as follows:

							Weighted-Average
							Remaining		Aggregate
		Outstanding		Weighted-Average			Contractual Term		Intrinsic Value
		Options		Exercise Price			(Years)		(In thousands)
Outstanding as of December 31, 2017		713,211		$	1.25		2.2
Options exercised		(30,362)			1.24
Options forfeited		—			—
Outstanding,  Vested and Exercisable as of June 30, 2018		682,849			1.25		1.7		$	10,163

2013 Equity Incentive Plan

Company's Stock Option Activity

A summary of the Company’s stock option activity under the 2013 Plan for the six months ended June 30, 2018 is as follows:

							Weighted-Average
ccc							Remaining		Aggregate
		Outstanding		Weighted-Average			Contractual Term		Intrinsic Value
		Options		Exercise Price			(Years)		(In thousands)
Outstanding as of December 31, 2017		2,664,163		$	7.34		7.4
Options granted		715,329			20.16
Options exercised		(54,624)			6.48
Options forfeited		(31,495)			13.10
Outstanding as of June 30, 2018		3,293,373			8.25		7.4		$	26,958
Vested or expected to vest as of June 30, 2018		3,293,373			8.25		7.4		$	26,958
Exercisable as of June 30, 2018		1,914,278			7.77		6.4		$	15,970

Weighted-Average Fair Value of Options Granted

		Six Months Ended		Six Months Ended
		June 30, 2018		June 30, 2017
Expected term		6.25 years		6.25 years
Expected volatility		73.82%		75.19%
Risk-free interest rate		2.49%		2.09%
Expected dividend yield		0%		0%

Summary of RSU Activity

The following is a summary of RSU activity under the 2013 Plan for the six months ended June 30, 2018:

					Weighted-Average
			Number of Shares		Grant Date
		Underlying RSUs				Fair Value
Unvested at December 31, 2017			9,667		$	4.61
Granted			—			—
Forfeited			—			—
Vested			4,834			4.61
Unvested at June 30, 2018			4,833			4.61

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