Defined Contribution Plan

6 Months Ended

Jun. 30, 2020

Retirement Benefits [Abstract]

Defined Contribution Plan

Defined Contribution Plan

The Company maintains a defined contribution plan under Section 401(k) of the Internal Revenue Code (the “401(k) Plan”). The 401(k) Plan covers all employees who meet defined minimum age and service requirements, and allows participants to defer a portion of their annual compensation on a pretax basis. The 401(k) Plan provides for matching contributions on a portion of participant contributions pursuant to the 401(k) Plan’s matching formula. All matching contributions vest ratably over 4 years and participant contributions vest immediately. Contributions by the Company totaled less than $0.1 million during each of the three months ended June 30, 2020 and 2019, respectively, and $0.1 million during each of the six months ended June 30, 2020 and 2019.