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Stockholders' Equity (Tables) | 3 Months Ended
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Mar. 31, 2021
Equity [Abstract] |
Summary of Stock Option Activity | The following table summarizes the stock option activity during the three months ended March 31, 2021:
|  | Shares Subject to Options |  |  | Weighted- Average Exercise Price Per Share |  |  | Weighted Average Remaining Contractual Term (in years) |  |  | Aggregate Intrinsic Value (in thousands) |
Options outstanding at December 31, 2020 |  |  | 2,463,317 |  |  | $ | 3.71 |  |  |  |  |  |  |
Granted |  |  | 1,493,500 |  |  | $ | 5.14 |  |  |  |  |  |  |
Exercised |  |  | (1,458 | ) |  | $ | 2.45 |  |  |  |  |  |  |
Forfeitures and cancellations |  |  | (8,542 | ) |  | $ | 3.96 |  |  |  |  |  |  |
Options outstanding at March 31, 2021 |  |  | 3,946,817 |  |  | $ | 4.25 |  |  |  | 8.51 |  |  | $ | 11,473 |
Options exercisable at March 31, 2021 |  |  | 1,210,431 |  |  | $ | 3.48 |  |  |  | 6.83 |  |  | $ | 4,453 |
(a) Aggregate intrinsic value in this table was calculated as the positive difference, if any, between the closing price per share of the Company’s common stock on March 31, 2021 of $7.15 and the price of the underlying options. At March 31, 2021, unamortized stock compensation for stock options was $11.0 million, with a weighted-average recognition period of 2.9 years.
Summary of Non-cash Stock-based Compensation Expense | The non-cash stock-based compensation expense for all stock awards, net of forfeitures recognized as they occur, that was recognized in the condensed consolidated statements of operations is as follows (in thousands):
|  | Three Months Ended March 31, |
|  | 2021 |  |  | 2020 |
Research and development |  | $ | 474 |  |  | $ | 414 |
General and administrative |  |  | 570 |  |  |  | 373 |
Total |  | $ | 1,044 |  |  | $ | 787 |
Summary of Reserved Shares of Common Stock for Future Issuance | Common stock reserved for future issuance at March 31, 2021 is as follows:
|  | March 31, |  |  | December 31, |
|  | 2021 |  |  | 2020 |
Stock options issued and outstanding |  |  | 3,946,817 |  |  |  | 2,463,317 |
Warrants for common stock |  |  | 1,366,141 |  |  |  | 80,428 |
Awards available under the 2018 Equity Incentive Plan |  |  | 792,228 |  |  |  | 1,039,531 |
Employee stock purchase plan |  |  | 860,060 |  |  |  | 612,529 |
Total |  |  | 6,965,246 |  |  |  | 4,195,805 |

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