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Stock-Based Compensation (Tables) | 6 Months Ended
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Jun. 30, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Summary of Stock Option Activity for Amended 2014 Plan and Related Information | The table below summarizes stock option activity under the Amended 2014 Plan, and related information for the six months ended June 30, 2019. The exercise price of all options granted during the six months ended June 30, 2019 was equal to the market value of the Company’s common stock on the date of the grant. As of June 30, 2019, unamortized stock-based compensation expense of $1,348,159 will be amortized over a weighted average period of 2.9 years. At June 30, 2019, 497,032 shares of common stock were reserved for future issuance under the Amended 2014 Plan.
| Number of Shares |  | Weighted Average Exercise Price
Outstanding at December 31, 2018 (1) | 1,635,790 |  |  | $ | 11.08 |
Granted | 698,000 |  |  | 0.79 |
Exercised | — |  |  | — |
Canceled/forfeited | (316,832 | ) |  | 24.55 |
Expired | (70 | ) |  | 59.48 |
Outstanding at June 30, 2019 (unaudited) (1) | 2,016,888 |  |  | $ | 5.40 |
Exercisable at June 30, 2019 (unaudited) | 427,702 |  |  | $ | 21.83 |
(1)Includes 10,149 shares subject to options granted under the 2015 Private Daré Plan assumed in connection with the Cerulean/Private Daré stock purchase transaction.
Summary of Recognized Stock-Based Compensation Expense Related to Stock Options Granted to Employees and Directors | Total stock-based compensation expense related to stock options granted to employees and directors recognized in the consolidated statement of operations is as follows:
| Three Months Ended June 30, | Six Months Ended June 30,
| 2019 |  | 2018 | 2019 |  | 2018
Research and development | $ | 26,996 |  |  | $ | — |  | $ | 51,699 |  |  | $ | — |
General and administrative | 84,355 |  |  | 9,423 |  | 157,620 |  |  | 18,547 |
Total | $ | 111,351 |  |  | $ | 9,423 |  | $ | 209,319 |  |  | $ | 18,547 |
Summary of Assumptions Used in Black-Scholes Option-Pricing Model for Stock Options Granted to Employees and Directors | The assumptions used in the Black-Scholes option-pricing model for stock options granted to employees and to directors in respect of board services during the six months ended June 30, 2019 are as follows:
|  | Three Months Ended June 30, 2019 |  | Six Months Ended June 30, 2019
Expected life in years |  | 10.0 |  | 10.0
Risk-free interest rate |  | 2.09% |  | 2.58%
Expected volatility |  | 123% |  | 121%
Forfeiture rate |  | 0.0% |  | 0.0%
Dividend yield |  | 0.0% |  | 0.0%
Weighted-average fair value of options granted |  | $0.86 |  | $0.75

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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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