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Stock Option Plans (Tables)
 12 Months Ended
Dec. 31, 2020
Share-based Payment Arrangement [Abstract]  
Summary of Shares Available for Issuance A summary of the shares available for issuance under the 2007 Stock Option Plan, NeuroCo 2015 Equity Incentive Plan and 2019 Plan, or the Plans, is as follows:
Number of Shares
Balances, December 31, 2017328,290 
Authorized223,664 
Granted(629,716)
Canceled135,651 
Balances, December 31, 201857,889 
Authorized2,317,000 
Granted(848,023)
Canceled27,824
Balances, December 31, 20191,554,690
Authorized1,250,210 
Granted/Awarded(1,079,883)
Cancelled65,670 
Balances, December 31, 20201,790,687 
Stock option activity under the Company's Plans is set forth below:
Options Outstanding
Number of SharesWeighted Average Exercise PriceWeighted Average Remaining Contractual Term (in Years)Aggregate Intrinsic Value (in thousands)
Balances, December 31, 20174,308,890 $3.09 7.81$5,073 
Options granted629,716 $6.51 
Options exercised(438,578)$1.50 
Options cancelled(135,651)$1.56 
Balances, December 31, 20184,364,377 $3.79 7.36$33,132 
Options granted848,023 $22.77 
Options exercised(873,786)$1.77 
Options cancelled(27,824)$8.71 
Balances, December 31, 20194,310,790 $7.91 7.27$140,234 
Options granted1,010,843 $40.67 
Options exercised(1,018,779)$3.42 
Options cancelled(65,026)$23.32 
Balances, December 31, 20204,237,828 $16.56 7.38$197,407 
Vested and exercisable at December 31, 20202,392,563 $8.48 6.53$130,417 
Vested and expected to vest at December 31, 20204,237,828 $16.56 7.38$197,407 
The following table summarizes information about stock options outstanding and vested as of December 31, 2020:
Options OutstandingOptions Vested
Exercise PriceOptions OutstandingWeighted Average Remaining Contractual Term (in Years)Weighted Average Exercise PriceNumber ExercisableWeighted Average Exercise Price
$1.35 - $3.16
1,214,279 5.45$1.97 1,128,865 $1.88 
$4.73 - $7.10
722,615 7.17$5.64 443,670 $5.69 
$8.27 - $12.41
564,188 7.08$11.67 394,727 $11.81 
$20.00 - $30.00
656,009 8.26$20.00 270,305 $20.00 
$30.93 - $46.40
771,966 9.21$33.50 136,151 $33.76 
$47.20 - $70.80
308,771 9.53$58.86 18,845 $51.99 
4,237,828 7.38$16.56 2,392,563 $8.48 
Summary of RSU Activity A summary of RSUs activity for the year ended December 31, 2020 is as follows:
Number of Restricted Stock UnitsWeighted Average Grant Date Fair Value
Balances, December 31, 2019— 
Restricted stock granted69,040 $46.14 
Restricted stock vested— 
Restricted stock forfeited(644)$44.62 
Balances, December 31, 202068,396 $46.16 
Expected to vest at December 31, 202068,396 $46.16 
Schedule of Fair Value Assumptions The fair value of employee and nonemployee stock options was estimated using the following assumptions for the years ended December 31, 2020, 2019 and 2018:
Year Ended December 31,
202020192018
Expected term (in years)
5.25 - 6.25
5.00 - 6.25
5.00 - 6.25
Expected volatility
43.0% - 50.3%
42.4% - 42.9%
38.0% - 38.8%
Risk-free interest rate
0.32% - 1.41%
1.47% - 2.54%
2.68% - 2.98%
Dividend yield—%—%—%
Schedule of Fair Value Assumptions
The fair value of the shares to be issued under the Company’s 2019 ESPP was estimated using the Black-Scholes valuation model with the following assumptions for the years ended December 31, 2020 and 2019:
Year Ended December 31,
20202019
Expected term (in years)0.50
0.50 - 0.63
Expected volatility
44.4% - 76.4%
44.4% - 47.8%
Risk-free interest rate
0.10% - 1.58%
1.58% - 2.45%
Dividend yield—%—%
Stock-Based Compensation Expense Relating to Stock Options to Employees and Nonemployees
The following table summarizes the total stock-based compensation expense included in the statements of operations for all periods presented (in thousands):
Year Ended December 31,
202020192018
Cost of goods sold$339 $179 $51 
Research and development expenses1,110 426 256 
Selling, general and administrative expenses5,777 2,372 604 
$7,226 $2,977 $911