Stock-Based Compensation Expense (Tables)

9 Months Ended

Sep. 30, 2020

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Schedule of Stock-Based Compensation Expense

Stock-based compensation expense included in the Company’s condensed consolidated statements of operations and comprehensive loss is as follows (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Research and development	$	73	$	6	$	128	$	13
General and administrative		395		43		1,093		128
Total	$	468	$	49	$	1,221	$	141

Schedule of Fair Value of Stock Option Estimated on Date of Grant Using Black-Scholes Option-Pricing Model

The fair value of each stock option granted to employees, directors and non-employees was estimated on the date of grant using the Black-Scholes option-pricing model, with the following weighted-average assumptions:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2020			2019			2020			2019
Risk-free interest rate		0.3	%		1.5	%		0.6	%		2.2	%
Expected dividend yield		—	%		—	%		—	%		—	%
Expected term (in years)		6.1			6.1			6.0			6.1
Expected volatility		82.8	%		78.0	%		80.4	%		76.8	%

Summary of Stock Option Activity Under Plans

A summary of the stock option activity under the Plans for the nine months ended September 30, 2020 is as follows:

	Shares			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Life (in years)		Aggregate Intrinsic Value (in thousands)
Outstanding December 31, 2019		792,439		$	6.59		7.3	$	3,363
Granted		702,505			14.42
Exercised		(254	)		1.73
Cancelled		(119,383	)		9.41
Outstanding at September 30, 2020		1,375,307		$	10.34		7.8	$	5,031
Exercisable at September 30, 2020		571,355		$	9.20		5.9	$	2,813
Vested and expected to vest at September 30, 2020		1,375,307		$	10.34		7.8	$	5,031