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Stock Award Plan and Stock-Based Compensation (Tables)

3 Months Ended

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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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.

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