XML 32 R20.htm IDEA: XBRL DOCUMENT

Stockholders' Equity (Tables)

3 Months Ended

Mar. 31, 2021

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