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Stock-Based Awards (Tables)
12 Months Ended
Dec. 31, 2020
Stock-Based Awards [Abstract]  
Weighted-Average Assumptions for Stock Options

Improvements to Nonemployee Share-Based Payment Accounting (“ASU 2018-07”). The table below for the years ended December 31, 2020, 2019 and 2018 is post adoption of ASU 2018-07. The weighted average assumptions that the Company used in the Black-Scholes pricing model to determine the fair value of the stock options granted to employees, non-employees and directors were as follows:

 
Years Ended December 31,
 
   
2020
   
2019
   
2018
 
             
Risk-free interest rate
   
1.00
%
   
2.26
%
   
2.64
%
Expected term (in years)
   
5.84
     
5.81
     
5.85
 
Expected volatility
   
76.98
%
   
75.71
%
   
87.70
%
Expected dividend yield
   
0.00
%
   
0.00
%
   
0.00
%
Exercise price
 
$
22.96
   
$
14.47
   
$
17.82
 
Fair value of common stock
 
$
22.96
   
$
14.47
   
$
17.98
 
Stock Option Activity

The following table summarizes stock option activity for the years ended December 31, 2020 and 2019, under the Revised 2014 Plan:

 
Number of
Shares
   
Weighted
Average
Exercise
Price
   
Weighted
Average
Contractual
Term (Years)
   
Aggregate
Intrinsic
Value
 
                         
Outstanding as of December 31, 2018
   
8,615,997
   
$
4.48
     
7.51
   
$
94,474
 
Granted
   
1,706,116
     
14.47
     
9.29
         
Exercised
   
(110,325
)
   
2.31
             
1,429
 
Cancelled
   
(448,247
)
   
10.83
                 
Outstanding as of December 31, 2019
   
9,763,541
   
$
5.95
     
6.96
   
$
164,021
 
Granted
   
2,193,546
     
22.96
     
8.97
         
Exercised
   
(586,857
)
   
4.82
             
13,494
 
Cancelled
   
(319,299
)
   
15.82
                 
Outstanding as of December 31, 2020
   
11,050,931
   
$
9.10
     
6.55
   
$
504,079
 
                                 
Options vested and exercisable as of December 31, 2020
   
8,244,686
   
$
4.98
     
5.70
   
$
409,530
 
Options unvested as of December 31, 2020
   
2,806,245
   
$
21.15
     
9.04
         
Stock-Based Compensation Expense by Award Type

Stock-based compensation expense recognized by award type is as follows:

 
Years Ended December 31,
 
   
2020
   
2019
   
2018
 
             
Stock options
 
$
18,527
   
$
13,371
   
$
13,601
 
Restricted stock units
   
40
     
-
     
-
 
Total share based compensation expense
 
$
18,567
   
$
13,371
   
$
13,601
 
Stock-Based Compensation Expense

Stock-based compensation expense by classification included within the consolidated statements of operations and comprehensive loss was as follows:

 
Years Ended December 31,
 
   
2020
   
2019
   
2018
 
             
Research and development
 
$
7,355
   
$
6,153
   
$
7,375
 
General and administrative
   
11,211
     
7,218
     
6,226
 
Total share based compensation expense
 
$
18,567
   
$
13,371
   
$
13,601
 
RSU Activity

The following table summarizes our RSU activity for the year ended December 31, 2020:

 
Number of
Shares
   
Weighted
Average
Grant Date
Fair Value
 
             
Unvested as of December 31, 2019
   
-
     
-
 
Granted
   
20,000
   
$
25.06
 
Unvested as of December 31, 2020
   
20,000