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Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Company's Stock Option Activity and Related Information

A summary of the Company’s stock option activity and related information is as follows:

 

 

 

 

 

 

 

Options Outstanding

 

 

 

Shares

Available

for Grant

 

 

Number

of Stock

Options

Outstanding

 

 

Weighted-

Average

Exercise

Price

 

 

Weighted-

Average

Remaining

Contractual Life

(Years)

 

 

Aggregate

Intrinsic

Value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(In thousands)

 

Balance at December 31, 2017

 

 

969,783

 

 

 

8,592,747

 

 

$

3.69

 

 

 

7.4

 

 

$

47,864

 

Additional options authorized

 

 

2,706,158

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options granted

 

 

(2,003,229

)

 

 

2,003,229

 

 

 

7.15

 

 

 

 

 

 

 

 

 

Options exercised

 

 

 

 

 

(396,939

)

 

 

1.80

 

 

 

 

 

 

 

 

 

Options canceled

 

 

155,459

 

 

 

(155,459

)

 

 

5.41

 

 

 

 

 

 

 

 

 

Balance at June 30, 2018

 

 

1,828,171

 

 

 

10,043,578

 

 

$

4.43

 

 

 

7.6

 

 

$

25,933

 

Vested and exercisable at June 30, 2018

 

 

 

 

 

 

5,411,367

 

 

$

3.08

 

 

 

6.4

 

 

$

21,106

 

Vested and expected to vest at June 30, 2018

 

 

 

 

 

 

9,701,142

 

 

$

4.38

 

 

 

7.6

 

 

$

25,536

 

 

Schedule of Weighted-Average Assumptions Used in Black-Scholes Option-Pricing Model to Estimate Fair Value of Employee Stock Option at Grant Date

The fair value of employee stock option was estimated at the date of grant using a Black-Scholes option-pricing model with the following weighted-average assumptions:  

 

 

 

Six Months Ended

June 30,

 

 

 

2018

 

 

2017

 

Expected term (in years)

 

 

6.0

 

 

 

6.0

 

Expected volatility%

 

61.2%

 

 

67.1%

 

Risk-free interest rate%

 

2.8%

 

 

2.1%

 

Expected dividend yield%

 

 

0.0%

 

 

 

0.0%

 

 

Summary of Stock-Based Compensation Expense

Total stock-based compensation expense recognized in the Company’s condensed consolidated statements of operations is classified as follows (in thousands):

 

 

 

Three Months Ended

June 30,

 

 

Six Months Ended

June 30,

 

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

Research and development

 

$

347

 

 

$

216

 

 

$

550

 

 

$

381

 

Selling and marketing

 

 

194

 

 

 

72

 

 

 

321

 

 

 

123

 

General and administrative

 

 

1,142

 

 

 

725

 

 

 

2,002

 

 

 

1,278

 

Total stock-based compensation expense

 

$

1,683

 

 

$

1,013

 

 

$

2,873

 

 

$

1,782