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Share-Based Compensation (Tables) | 6 Months Ended
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Jun. 30, 2020
Summary of Assumptions Used to Determine Fair Value of Options | The range of assumptions that the Company used to determine the grant date fair value of employee and director options granted were as follows:
|  | Six Months Ended June 30,
|  | 2020 |  | 2019
Volatility |  | 90.3% - 99.5% |  | 68.9% - 70.2%
Expected term in years |  | 5.5 - 6.25 |  | 5.5 - 6.25
Dividend rate |  | 0% |  | 0%
Risk-free interest rate |  | 0.18% - 0.78% |  | 1.96% - 2.57%
Share price |  | $1.68 - $2.03 |  | $5.80 - $6.80
Fair value of option on grant date |  | $1.27 - $1.52 |  | $3.74 - $4.41
Summary of Number of Options Outstanding and Weighted-average Exercise Price | The following table summarizes the number of options outstanding and the weighted-average exercise price as of June 30, 2020:
|  | Number of Shares |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Life in Years |  |  | Aggregate Intrinsic Value (in thousands) |
Options outstanding December 31, 2019 |  |  | 1,150,270 |  |  | $ | 7.92 |  |  |  | 8.59 |  |  | $ | 254 |
Granted |  |  | 64,840 |  |  |  | 1.69 |  |  |  |  |  |  |  |  |
Exercised |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |
Forfeited |  |  | (25,845 | ) |  |  | 9.16 |  |  |  |  |  |  |  |  |
Expired |  |  | (20,374 | ) |  |  | 7.99 |  |  |  |  |  |  |  |  |
Options outstanding June 30, 2020 |  |  | 1,168,891 |  |  |  | 7.55 |  |  |  | 7.59 |  |  |  | — |
Exercisable at June 30, 2020 (unaudited) |  |  | 618,370 |  |  |  | 7.97 |  |  |  | 6.84 |  |  |  | — |
Summary of Number of RSUs Outstanding and Weighted-average Grant Date Fair Value of RSUs | The table below shows the number of RSUs outstanding covering an equal number of the Company’s ordinary shares and the weighted-average grant date fair value of the RSUs outstanding as of June 30, 2020:
|  | Number of Shares |  |  | Weighted Average Grant Date Fair Value per Share |
RSUs outstanding December 31, 2019 |  |  | 31,367 |  |  | $ | 7.01 |
Granted |  |  | — |  |  |  |  |
Shares vested |  |  | (11,406 | ) |  |  | 7.01 |
Forfeited |  |  | (5,703 | ) |  |  | 7.01 |
RSUs outstanding June 30, 2020 |  |  | 14,258 |  |  |  | 7.01 |
Summary of Share-based Compensation Expense | The Company’s share-based compensation expense was classified in the condensed consolidated statements of operations and comprehensive loss as follows:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
|  | (unaudited) |  |  | (unaudited) |
Research and development expense |  | $ | 367 |  |  | $ | 196 |  |  | $ | 580 |  |  | $ | 359 |
General and administrative expense |  |  | 819 |  |  |  | 377 |  |  |  | 1,203 |  |  |  | 754 |
Performance RSUs |
Summary of Number of RSUs Outstanding and Weighted-average Grant Date Fair Value of RSUs | The table below shows the number of Performance RSUs outstanding covering an equal number of the Company’s ordinary shares and the weighted-average grant date fair value of the Performance RSUs outstanding as of June 30, 2020:
|  | Number of Shares |  |  | Weighted Average Grant Date Fair Value per Share |
Performance RSUs outstanding December 31, 2019 |  |  | 50,000 |  |  | $ | 8.21 |
Granted |  |  | 1,079,000 |  |  |  | 2.04 |
Shares vested |  |  | — |  |  |  |  |
Forfeited |  |  | (34,000 | ) |  |  | 2.58 |
Performance RSUs outstanding June 30, 2020 |  |  | 1,095,000 |  |  |  | 2.30 |

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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=120381028&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=120381028&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=120381028&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=120381028&loc=d3e5070-113901 + Details
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