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Stockholders Equity (Tables) | 6 Months Ended
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Jun. 30, 2020
Weighted-Average Fair Value of Options Granted | ​
​ | ​ | ​ | ​ | ​
​ | ​ | Six Months Ended June 30,
​ |  | 2020 | ​ | 2019
Expected term |  | 6.25 years | ​ | 6.25 years
Expected volatility |  | 84.39% | ​ | 71.14%
Risk-free interest rate |  | 1.45% | ​ | 2.55%
Expected dividend yield |  | 0% | ​ | 0%
Stock-Based Compensation Expense | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended June 30, | ​ | Six Months Ended June 30, | ​
​ |  | 2020 | ​ | 2019 |  | 2020 | ​ | 2019 |
Research and development expense | ​ | $ | 747,006 | ​ | $ | 578,843 | ​ | $ | 1,483,037 | ​ | $ | 1,086,665 | ​
General and administrative expense | ​ |  | 1,014,667 | ​ |  | 940,552 | ​ |  | 2,100,785 | ​ |  | 1,815,174 | ​
Total stock-based compensation expense | ​ | $ | 1,761,673 | ​ | $ | 1,519,395 | ​ | $ | 3,583,822 | ​ | $ | 2,901,839 | ​
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, 2020 is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ | ​ | ​ | ​ | WEIGHTED- | ​ | AGGREGATE
​ |  | ​ | ​ | WEIGHTED- | ​ | AVERAGE | ​ | INTRINSIC
​ |  | ​ | ​ | AVERAGE | ​ | REMAINING | ​ | VALUE
​ |  | OUTSTANDING | ​ | EXERCISE | ​ | CONTRACTUAL | ​ | (IN
​ | ​ | OPTIONS |  | PRICE |  | TERM (YEARS) |  | THOUSANDS)
Outstanding as of December 31, 2019 | ​ | 382,337 | ​ | $ | 1.33 |  | 1.3 | ​ | ​ | ​
Options exercised | ​ | (121,056) | ​ |  | 1.12 | ​ | ​ | ​ | ​ | ​
Options forfeited | ​ | — | ​ |  | — | ​ | ​ | ​ | ​ | ​
Outstanding, Vested and Exercisable as of June 30, 2020 | ​ | 261,281 | ​ |  | 1.43 |  | 1.0 | ​ | $ | 608
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, 2020 is as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | WEIGHTED- | ​ | AGGREGATE
​ |  | ​ | ​ | WEIGHTED- | ​ | AVERAGE | ​ | INTRINSIC
​ |  | ​ | ​ | AVERAGE | ​ | REMAINING | ​ | VALUE
​ |  | OUTSTANDING | ​ | EXERCISE | ​ | CONTRACTUAL | ​ | (IN
​ |  | OPTIONS |  | PRICE |  | TERM (YEARS) |  | THOUSANDS)
Outstanding as of December 31, 2019 | ​ | 4,399,606 | ​ | $ | 10.43 | ​ | 6.8 | ​ | ​ | ​
Options granted | ​ | 1,473,100 | ​ | ​ | 4.49 | ​ | ​ | ​ | ​ | ​
Options exercised | ​ | — | ​ | ​ | — | ​ | ​ | ​ | ​ | ​
Options forfeited | ​ | (57,054) | ​ | ​ | 9.33 | ​ | ​ | ​ | ​ | ​
Outstanding as of June 30, 2020 | ​ | 5,815,652 | ​ | ​ | 8.93 | ​ | 7.1 | ​ | $ | 101
Vested or expected to vest as of June 30, 2020 | ​ | 5,815,652 | ​ | ​ | 8.93 | ​ | 7.1 | ​ | $ | 101
Exercisable as of June 30, 2020 | ​ | 3,318,444 | ​ | ​ | 9.69 | ​ | 5.7 | ​ | $ | —
Summary of RSU Activity | ​ The following is a summary of RSU activity under the 2013 Plan for the six months ended June 30, 2020:
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ | ​ |
​ |  | ​ | ​ | Weighted-Average |
​ | ​ | Number of Shares | ​ | Grant Date |
​ | ​ | Underlying RSUs |  | Fair Value |
Unvested at December 31, 2019 | ​ | 324,550 | ​ | $ | 4.53 | ​
Granted | ​ | — | ​ |  | — | ​
Forfeited | ​ | (12,382) | ​ |  | 4.53 | ​
Vested | ​ | — | ​ |  | — | ​
Unvested at June 30, 2020 | ​ | 312,168 | ​ |  | 4.53 | ​
Inducement Plan |
Company's Stock Option Activity | A summary of the Company’s stock option activity under the Inducement Plan for the six months ended June 30, 2020 is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | WEIGHTED- | ​ | AGGREGATE
​ |  | ​ | ​ | WEIGHTED- | ​ | AVERAGE | ​ | INTRINSIC
​ |  | ​ | ​ | AVERAGE | ​ | REMAINING | ​ | VALUE
​ |  | OUTSTANDING | ​ | EXERCISE | ​ | CONTRACTUAL | ​ | (IN
​ |  | OPTIONS |  | PRICE |  | TERM (YEARS) |  | THOUSANDS)
Outstanding as of December 31, 2019 | ​ | — | ​ | $ | — | ​ | — | ​ | ​ | ​
Options granted | ​ | 40,600 | ​ | ​ | 2.06 | ​ | ​ | ​ | ​ | ​
Options exercised | ​ | — | ​ | ​ | — | ​ | ​ | ​ | ​ | ​
Options forfeited | ​ | — | ​ | ​ | — | ​ | ​ | ​ | ​ | ​
Outstanding as of June 30, 2020 | ​ | 40,600 | ​ | ​ | 2.06 | ​ | 9.8 | ​ | $ | 69
Vested or expected to vest as of June 30, 2020 | ​ | 40,600 | ​ | ​ | 2.06 | ​ | 9.8 | ​ | $ | 69
Exercisable as of June 30, 2020 | ​ | — | ​ | ​ | — | ​ | — | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​

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- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + 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 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14.F) -URI http://asc.fasb.org/extlink&oid=115993241&loc=d3e301413-122809 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5047-113901 + 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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