Equity Incentive Plans (Tables)

6 Months Ended

Jun. 30, 2019

Summary of Estimated Fair Value of Options Granted

The estimated fair value of options granted during the six months ended June 30, 2019 and 2018 was estimated using the Black-Scholes option-pricing model with the following weighted-average assumptions for our 2009 Plan:

	Adaptive 2009 Equity Incentive Plan
	Six Months Ended June 30,
	2019			2018
	(unaudited)
Grant date fair value	$	8.55		$	6.55
Expected term (in years)		6.06			6.16
Risk-free interest rate		2.4	%		2.7	%
Expected volatility		67.9	%		69.2	%
Expected dividend yield		—			—

Summary of Compensation Costs Related to Stock Options Included in Statements of Operations

The compensation costs related to stock options are included in our unaudited condensed statements of operations as follows (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2019		2018		2019		2018
	(unaudited)
Cost of revenue	$	113	$	92	$	243	$	176
Research and development		978		652		1,895		1,468
Sales and marketing		943		592		1,849		1,549
General and administration		1,298		1,112		2,391		2,357
Total share-based compensation expense	$	3,332	$	2,448	$	6,378	$	5,550

2009 Equity Incentive Plan

Summary of Option Activity

A summary of our option activity during the six months ended June 30, 2019 is as follows:

	Shares Available for Grant			Shares Subject to Outstanding Options			Weighted- Average Exercise Price per Share		Aggregate Intrinsic Value (in thousands)
Outstanding at December 31, 2018		6,827,996			14,893,253		$	4.59	$	39,864
Options granted (unaudited)		(3,890,331	)		3,890,331			7.55
Forfeited or cancelled (unaudited)		218,303			(218,303	)		6.19
Exercised (unaudited)		—			(883,845	)		2.13
Outstanding at June 30, 2019 (unaudited)		3,155,968			17,681,436			5.35		759,479

Sequenta, Inc. 2008 Stock Plan | Series E-1 Convertible Preferred Stock

Summary of Option Activity

A summary of our Series E-1 convertible preferred stock option activity during the six months ended June 30, 2019 is as follows:

	Convertible Preferred Shares Subject to Outstanding Options			Weighted- Average Exercise Price per Share		Aggregate Intrinsic Value (in thousands)
Outstanding at December 31, 2018		264,677		$	0.44	$	1,826
Options granted (unaudited)		—			—
Forfeited or cancelled (unaudited)		—			—
Exercised (unaudited)		(249,643	)		0.44
Outstanding at June 30, 2019 (unaudited)		15,034			0.49		719