Stock-based Compensation (Tables)

9 Months Ended

Sep. 30, 2017

Stock-based Compensation

Summary of stock option activity

	Shares	Weighted average exercise price
Outstanding at January 1, 2017	784,011	$	10.70
Options granted	207,700	16.72
Options exercised	—	—
Options cancelled	—	—
Outstanding at September 30, 2017	991,711	$	11.96
Exercisable at September 30, 2017	373,148	$	11.20

Summary of unvested restricted share activity

	Shares		Weighted average grant date fair value
Outstanding at January 1, 2017	157,262		$	10.06
Granted	—		—
Forfeited	—		—
Vested	(52,063	)	9.45
Outstanding at September 30, 2017	105,199		$	10.37

Schedule of stock-based compensation expense

Stock-based compensation expense during the three and nine months ended September 30, 2017 and 2016 was as follows (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2017		2016		2017		2016
Stock-based compensation expense by type of award:
Stock options	$	878	$	1,347	$	1 ,859	$	1,347
Restricted stock	151		595		448		595
Change in control bonus plan (see Note 3)	—		5,411		—		5,411
Total stock-based compensation expense	$	1,029	$	7,353	$	2,307	$	7,353
Effect of stock-based compensation expense by line item:
Research and development	$	272	$	5,260	$	577	$	5,260
General and administrative	757		2,093		1,730		2,093
Total stock-based compensation expense included in net loss	$	1,029	$	7,353	$	2,307	$	7,353

Schedule of unrecognized stock-based compensation expense

Unrecognized stock-based compensation expense as of September 30, 2017 was as follows (in thousands):

	Unrecognized stock compensation expense		Weighted average remaining period (in years)
Stock options	$	5,318	2.21
Restricted stock	910		1.77
Total	$	6,228	2.15