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Shareholders' Deficit (Tables)
6 Months Ended
Jun. 30, 2020
Equity [Abstract]  
Schedule of Outstanding Stock Options

Total outstanding stock options as of June 30, 2020 and 2019 were as follows:

 

 

 

2020

 

 

2019

 

 

 

Number of

shares

 

 

Weighted

average

exercise price

 

 

Number of

shares

 

 

Weighted

average

exercise price

 

Outstanding at beginning of period

 

 

3,505,119

 

 

$

2.07

 

 

 

907,315

 

 

$

1.66

 

Granted

 

 

869,075

 

 

$

16.35

 

 

 

1,013,635

 

 

$

2.06

 

Exercised

 

 

(266,687

)

 

$

1.83

 

 

 

 

 

 

 

Cancelled or forfeited

 

 

(7,962

)

 

$

2.13

 

 

 

 

 

 

 

Outstanding at end of period

 

 

4,099,545

 

 

$

5.11

 

 

 

1,920,950

 

 

$

1.87

 

Schedule of Share-based Compensation Expense

Share-based compensation expense was allocated as follows:

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Research and development

 

$

163

 

 

$

63

 

 

$

296

 

 

$

103

 

General and administrative

 

 

226

 

 

 

58

 

 

 

364

 

 

 

83

 

Total share-based compensation expense

 

$

389

 

 

$

121

 

 

$

660

 

 

$

186

 

Schedule of Fair Value of Stock Options Determined on Grant Date Using Black Scholes Option-Pricing Model

 

The assumptions that the Company used in the Black Scholes option-pricing model to determine the grant date fair value of stock options granted to employees and non-employees were as follows, presented on a weighted average basis:

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Fair value of stock options

 

$

10.30

 

 

 

 

 

$

10.30

 

 

$

0.97

 

Exercise price

 

$

16.35

 

 

 

 

 

$

16.35

 

 

$

2.06

 

Share price

 

$

16.35

 

 

 

 

 

$

16.35

 

 

$

2.06

 

Risk-free interest rate

 

 

0.43

%

 

 

 

 

 

0.43

%

 

 

2.27

%

Expected terms (in years)

 

 

6.07

 

 

 

 

 

 

6.07

 

 

 

6.08

 

Expected volatility

 

 

71.99

%

 

 

 

 

 

71.99

%

 

 

70.79

%

Expected dividend yield

 

 

0.00

%

 

 

 

 

 

0.00

%

 

 

0.00

%