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Stockholders' Equity (Tables) | 6 Months Ended
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Jun. 30, 2021
Equity [Abstract] |
Summary of Stock Option Activity | The following table summarizes the stock option activity during the six months ended June 30, 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 |  |  | 1,750,580 |  |  | $ | 5.35 |  |  |  |  |  |  |
Exercised |  |  | (295,028 | ) |  | $ | 2.72 |  |  |  |  |  |  |
Forfeitures and cancellations |  |  | (78,918 | ) |  | $ | 4.29 |  |  |  |  |  |  |
Options outstanding at June 30, 2021 |  |  | 3,839,951 |  |  | $ | 4.53 |  |  |  | 8.83 |  |  | $ | 5,898 |
Options exercisable at June 30, 2021 |  |  | 1,068,656 |  |  | $ | 3.72 |  |  |  | 8.04 |  |  | $ | 2,556 |
(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 June 30, 2021 of $5.89 and the price of the underlying options.
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 June 30, |  |  | Six Months Ended June 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Research and development |  | $ | 462 |  |  | $ | 488 |  |  | $ | 936 |  |  | $ | 902 |
General and administrative |  |  | 602 |  |  |  | 862 |  |  |  | 1,172 |  |  |  | 1,235 |
Total |  | $ | 1,064 |  |  | $ | 1,350 |  |  | $ | 2,108 |  |  | $ | 2,137 |
Summary of Reserved Shares of Common Stock for Future Issuance | Common stock reserved for future issuance at June 30, 2021 is as follows:
|  | June 30, |  |  | December 31, |
|  | 2021 |  |  | 2020 |
Stock options issued and outstanding |  |  | 3,839,951 |  |  |  | 2,463,317 |
Warrants for common stock |  |  | 1,366,141 |  |  |  | 80,428 |
Awards available under the 2018 Equity Incentive Plan |  |  | 605,524 |  |  |  | 1,039,531 |
Employee stock purchase plan |  |  | 811,094 |  |  |  | 612,529 |
Total |  |  | 6,622,710 |  |  |  | 4,195,805 |

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