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Equity-based Compensation and Equity Incentive Plans (Tables)

3 Months Ended

Mar. 31, 2020

Schedule of Restricted Common Stock Activity

The following table shows restricted stock activity during the three months ended March 31, 2020:

		Restricted stock awards
						Grant date
		Number of				fair value
		shares				(per share)
Unvested at December 31, 2019			586,929			$	2.97
Granted			226,335				1.70
Vested			(9,318	)			13.53
Forfeited			(33,755	)			2.45
Unvested at March 31, 2020			770,191			$	2.49

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, 2020 and 2019 (in thousands):

		Three Months Ended March 31,
		2020				2019
Research and development		$	441			$	284
General and administrative			654				670
		$	1,095			$	954

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, 2020 and 2019 (in thousands):

		Three Months Ended March 31,
		2020				2019
Stock options		$	875			$	926
Restricted stock awards			220				28
		$	1,095			$	954

2015 and 2017 Plan

Schedule of Stock Option Activity

The following table summarizes stock option activity during the three months ended March 31, 2020 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, 2019			2,286,419			$	9.24				8.7			$	43
Granted			1,052,113				1.77								—
Forfeited			(86,073	)			9.30								1
Outstanding at March 31, 2020			3,252,459				6.82				8.9			$	18
Vested or expected to vest at March 31, 2020			3,252,459				6.82				8.9				18
Exercisable at March 31, 2020			919,285				11.26				8.0			$	—

(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, 2020 and December 31, 2019.  

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