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Stock Options (Tables) | 6 Months Ended
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Jun. 30, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
Schedule of Stock-Based Compensation Expense | The Company recorded employee and nonemployee share-based compensation expense as follows (in thousands):
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
Employee |  | $ | 2,138 |  |  | $ | 251 |  |  | $ | 3,577 |  |  | $ | 398 |
Nonemployee |  |  | 141 |  |  |  | 4 |  |  |  | 251 |  |  |  | 7 |
|  | $ | 2,279 |  |  | $ | 255 |  |  | $ | 3,828 |  |  | $ | 405 |
Schedule of Stock-Based Compensation Expense | Share-based compensation expense related to stock options is included in the following line items in the condensed consolidated statements of operations (in thousands):
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
Research and development |  | $ | 1,510 |  |  | $ | 176 |  |  | $ | 2,516 |  |  | $ | 278 |
General and administrative |  |  | 769 |  |  |  | 79 |  |  |  | 1,312 |  |  |  | 127 |
|  | $ | 2,279 |  |  | $ | 255 |  |  | $ | 3,828 |  |  | $ | 405 |
Schedule of Stock Options Valuation Assumptions Using a Black-Scholes Option Pricing Model | The Company granted 998,177 stock options for the six months ended June 30, 2019. The fair value of each stock option grant is estimated using a Black-Scholes option-pricing model on the date of grant as follows:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
Estimated dividend yield |  |  | 0.00 | % |  |  | 0.00 | %
Weighted-average expected stock price volatility |  |  | 68.46 | % |  |  | 68.19 | %
Weighted-average risk-free interest rate |  |  | 2.42 | % |  |  | 2.45 | %
Expected life of options (in years) |  |  | 6.82 |  |  |  | 6.36 |
Weighted-average fair value per option |  | $ | 9.31 |  |  | $ | 8.90 |
Summary of Activity of Option Plans | The following table summarizes activity in the Company’s stock option plans for the six months ended June 30, 2019:
|  | Outstanding Option Shares |  |  | Weighted- Average Exercise Price |
Balance as of January 1, 2019 |  |  | 7,763,464 |  |  | $ | 5.00 |
Granted |  |  | 998,177 |  |  |  | 13.38 |
Exercised |  |  | (376,247 | ) |  |  | 1.01 |
Forfeited/canceled |  |  | (279,912 | ) |  |  | 9.80 |
Balance as of June 30, 2019 |  |  | 8,105,482 |  |  |  | 6.06 |

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- Definition Tabular disclosure of the amount of total share-based compensation cost, including the amounts attributable to each share-based compensation plan and any related tax benefits. + 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=109197908&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed. + 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=109197908&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=109197908&loc=d3e5047-113901 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + 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 (d) -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 + 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=109197908&loc=d3e5070-113901 + Details
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