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Equity-based Compensation and Equity Incentive Plans (Tables)

3 Months Ended

Mar. 31, 2019

Schedule of Restricted Common Stock Activity

The following table shows restricted stock activity during the three months ended March 31, 2019:

		Restricted stock awards
						Grant date
		Number of				fair value
		shares				(per share)
Unvested at December 31, 2018			118,679			$	13.54
Granted			—				—
Vested			(18,124	)			13.53
Forfeited			(12,836	)			13.53
Unvested at March 31, 2019			87,719			$	13.55

Schedule of Equity-based Compensation Expenses

The following table summarizes equity‑based compensation expense within the Company’s consolidated statements of operations and comprehensive loss for the three months ended March 31, 2019 and 2018 (in thousands):

		Three Months Ended March 31,
		2019				2018
Research and development		$	284			$	377
General and administrative			670				542
		$	954			$	919

Schedule of Equity-based Compensation Expenses by Award Type

The following table summarizes equity‑based compensation expense by type of award for the three months ended March 31, 2019 and 2018 (in thousands):

		Three Months Ended March 31,
		2019				2018
Stock options		$	926			$	773
Restricted stock awards			28				146
		$	954			$	919

2015 and 2017 Plan

Schedule of Stock Option Activity

The following table summarizes stock option activity during the three months ended March 31, 2019 under the 2015 Plan and the 2017 Plan.

		Stock options outstanding
										Weighted
						Weighted				average				Aggregate
						average				remaining				Intrinsic
		Number of				exercise				contractual				value (a)
		options				price				term (in years)				(in thousands)
Outstanding at December 31, 2018			1,739,884			$	11.92				9.0			$	—
Granted			1,163,980				8.54
Exercised			—				—
Forfeited			(156,821	)			13.84
Outstanding at March 31, 2019			2,747,043				10.38				9.2			$	2,030
Vested or expected to vest at March 31, 2019			2,747,043				10.38				9.2				2,030
Exercisable at March 31, 2019			558,274				13.10				8.5			$	—

(a) The aggregate intrinsic value is calculated as the difference between the exercise price of the options and the fair market value of the underlying common stock for the options that were in the money at March 31, 2019 and December 31, 2018.  

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- Definition

Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

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Tabular disclosure of the changes in outstanding nonvested restricted stock shares.

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