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Stock Award Plan and Stock-Based Compensation (Tables) | 3 Months Ended
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Mar. 31, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] |
Schedule of Stock Option Activity for Employees and Non-Employees | Stock option activity for employees and non-employees for the three months ended March 31, 2019 is as follows:
|  | Shares Issuable Pursuant to Stock Options |  |  | Weighted- Average Exercise Price |  |  | Weighted- Average Remaining Contractual Term (Years) |  |  | Total Intrinsic Value (in thousands) |
Outstanding January 1, 2019 |  |  | 8,498,047 |  |  | $ | 6.99 |  |  |  | 8.1 |  |  | $ | 5,214 |
Granted |  |  | — |  |  | $ | — |  |  |  |  |  |  |  |  |
Exercised |  |  | (87,500 | ) |  | $ | 6.00 |  |  |  |  |  |  |  |  |
Forfeited |  |  | (31,875 | ) |  | $ | 6.51 |  |  |  |  |  |  |  |  |
Outstanding March 31, 2019 |  |  | 8,378,672 |  |  | $ | 7.00 |  |  |  | 7.8 |  |  | $ | 11,212 |
Exercisable March 31, 2019 |  |  | 4,078,271 |  |  | $ | 6.46 |  |  |  | 6.8 |  |  | $ | 7,635 |
Available for future grant |  |  | 801,654 |  |  |  |  |  |  |  |  |  |  |  |  |
Schedule of RSU Activity | RSU activity under the Plan for the three months ended March 31, 2019 is as follows:
|  |  |  |  |  | Weighted- Average |
|  |  |  |  |  | Grant Date |
|  | RSUs |  |  | Fair Value |
Unvested January 1, 2019 |  |  | 127,300 |  |  | $ | 11.71 |
Granted |  |  | — |  |  | $ | — |
Vested |  |  | — |  |  | $ | — |
Forfeited |  |  | — |  |  | $ | — |
Unvested March 31, 2019 |  |  | 127,300 |  |  | $ | 11.71 |
Schedule of Stock-Based Compensation Expense Included in the Company's Consolidated Statements of Operations | The following table presents stock-based compensation expense included in the Company’s consolidated statements of operations:
|  | Three Months Ended |
|  | March 31, |
|  | 2019 |  |  | 2018 |
Research and development |  | $ | 700,263 |  |  | $ | 524,146 |
General and administrative |  |  | 1,761,436 |  |  |  | 1,589,790 |
Total |  | $ | 2,461,699 |  |  | $ | 2,113,936 |
Employee Stock Option |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] |
Summary of Assumptions Used in Black Scholes Model to Estimate Fair Value of Stock Options | The Company uses the Black-Scholes model to estimate the fair value of stock options granted. For stock options granted to employees during the three months ended March 31, 2019 and 2018, the Company utilized the following assumptions:
|  | March 31, |
|  | 2019(1) |  |  | 2018 |
Expected term (years) |  |  | — |  |  |  | 6.25 |
Risk free interest rate |  |  | — |  |  |  | 2.33 | %
Volatility |  |  | — |  |  |  | 83 | %
Dividend yield |  |  | — |  |  |  | 0 | %
Weighted average grant date fair value per share of common stock |  |  | — |  |  | $ | 4.47 |
(1) | There were no stock options granted to employees during the three months ended March 31, 2019.
Non-Employees Stock Options |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] |
Summary of Assumptions Used in Black Scholes Model to Estimate Fair Value of Stock Options | For stock options granted to non-employees, the Company utilized the following assumptions:
|  | March 31, |
|  | 2019(1) |  |  | 2018 |
Expected term (years) |  |  | — |  |  | 8.4-9.8 |
Risk free interest rate |  |  | — |  |  | 2.71-2.74% |
Volatility |  |  | — |  |  | 85-113% |
Dividend yield |  |  | — |  |  |  | 0 | %
Weighted average reporting date fair value per share of common stock |  |  | — |  |  | $ | 5.56 |
(1) | There were no stock options granted to non-employees during the three months ended March 31, 2019.

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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 number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + 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 (c)(1) -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 + 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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