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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2019
Share-based Payment Arrangement [Abstract]  
Summary of Stock Option and Award Activity Excluding Inducement Grants
The following table summarizes option and award activity under the 2012 Plan and the 2014 Plan for the fiscal years ended December 31, 2018 and 2019:
 
Shares
Available
for Grant
 
Outstanding
Number
of Shares
 
Weighted-
Average
Exercise
Price per Share
 
Weighted-
Average
Remaining
Contractual
Term
(In Years)
 
Aggregate
Intrinsic
Value
Balance at January 1, 2018
29,571

 
99,029

 
$
25.33

 
8.46
 
 
Additional shares reserved
1,225,223

 

 
$

 
 
 
 
Options granted
(1,212,200
)
 
1,212,200

 
$
4.24

 
 
 
 
Options canceled/forfeited
15,072

 
(15,072
)
 
$
12.38

 
 
 
 
Shares expired under 2012 Plan
(1,867
)
 

 
$

 
 
 
 
Balance at December 31, 2018
55,799

 
1,296,157

 
$
5.75

 
9.23
 
$

Additional shares reserved
419,056

 

 
$

 
 
 
 
Options granted
(503,950
)
 
503,950

 
$
3.27

 
 
 
 
Options canceled/forfeited/expired
93,914

 
(93,914
)
 
$
6.03

 
 
 
 
Shares expired under 2012 Plan
(1,415
)
 

 
$

 
 
 
 
Balance at December 31, 2019
63,404

 
1,706,193

 
$
5.00

 
7.59
 
$

Exercisable at December 31, 2019
 
 
571,852

 
$
6.86

 
7.41
 
$

Summary of Company's Inducement Grant Stock Option Activities
The following table summarizes the Company’s inducement grant stock option activities:
 
 
Outstanding
Number
of Shares
 
Weighted-
Average
Exercise
Price per
Share
 
Weighted-Average Remaining
Contractual
Term
(In Years)
 
Aggregate
Intrinsic
Value
Balance at January 1, 2018

19,350

 
$
19.12

 
8.91
 
$

Options granted
 

 
$

 
 
 
 
Options canceled/forfeited
 
(5,513
)
 
$
15.40

 
 
 
 
Balance at December 31, 2018

13,837

 
$
20.60

 
4.52
 
$

Options granted
 
550,000

 
$
1.89

 
 
 
 
Options canceled/forfeited/expired
 
(9,723
)
 
$
17.81

 
 
 
 
Balance at December 31, 2019
 
554,114

 
$
2.08

 
9.76
 
$

Exercisable at December 31, 2019
 
3,228

 
$
27.20

 
3.77
 
$

Summary of Stock-Based Compensation Expense
Total stock-based compensation expense recognized was as follows:
 
Year Ended December 31, 2019
 
Year Ended December 31, 2018
 
(in thousands)
Research and development
$
742

 
$
529

General and administrative
870

 
649

Total
$
1,612

 
$
1,178

Schedule of Weighted-Average Assumptions for the Black-Scholes Option-Pricing Model Used in Determining the Fair Value of Options Granted to Employees
The following table presents the weighted-average assumptions for the Black-Scholes option-pricing model used in determining the fair value of options granted to employees:
 
Year Ended December 31, 2019
 
Year Ended December 31, 2018
Dividend yield
—%
 
—%
Risk-free interest rate
1.60% - 2.66%

2.46% - 3.11%
Expected volatility
106.33%-107.76%
 
89%
Expected term (years)
5.96 - 6.08
 
6.08