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Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2019
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, 2018

 

 

1,908,626

 

 

 

11,603,708

 

 

$

6.64

 

 

 

7.6

 

 

$

10,151

 

Additional options authorized

 

 

3,853,280

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options granted

 

 

(2,493,505

)

 

 

2,493,505

 

 

 

8.35

 

 

 

 

 

 

 

 

 

Options exercised

 

 

-

 

 

 

(1,701,627

)

 

 

4.82

 

 

 

 

 

 

 

 

 

Options canceled

 

 

410,410

 

 

 

(410,410

)

 

 

6.67

 

 

 

 

 

 

 

 

 

RSUs granted

 

 

(679,325

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

RSUs canceled

 

 

48,413

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at June 30, 2019

 

 

3,047,899

 

 

 

11,985,176

 

 

$

7.20

 

 

 

8.2

 

 

$

21,838

 

Vested and exercisable at June 30, 2019

 

 

 

 

 

 

3,467,682

 

 

$

4.50

 

 

 

6.5

 

 

$

14,977

 

Vested and expected to vest at June 30, 2019

 

 

 

 

 

 

11,351,730

 

 

$

7.16

 

 

 

8.1

 

 

$

21,454

 

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

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

 

 

 

Six Months Ended June 30,

 

 

 

2019

 

 

2018

 

Expected term (in years)

 

 

6.0

 

 

 

6.0

 

Expected volatility%

 

60.1%

 

 

61.2%

 

Risk-free interest rate%

 

2.5%

 

 

2.8%

 

Expected dividend yield%

 

 

0.0%

 

 

 

0.0%

 

Summary of RSU Activity (Detail)

 

 

RSUs

 

 

 

 

Number of Shares

 

 

Weighted Average Grant Date Fair Value

 

 

Unvested at December 31, 2018

 

 

1,736,234

 

 

$

9.65

 

 

RSUs granted

 

 

679,325

 

 

 

7.75

 

 

RSUs vested

 

 

(36,981

)

 

 

6.26

 

 

Unvested at June 30, 2019

 

 

2,378,578

 

 

$

9.22

 

 

Vested and unreleased

 

 

104,019

 

 

 

 

 

 

Outstanding at June 30, 2019

 

 

2,482,597

 

 

 

 

 

 

Summary of Stock-Based Compensation Expense

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

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Research and development

 

$

453

 

 

$

347

 

 

$

844

 

 

$

550

 

Selling and marketing

 

 

347

 

 

 

194

 

 

 

612

 

 

 

321

 

General and administrative

 

 

4,107

 

 

 

1,142

 

 

 

8,003

 

 

 

2,002

 

Total stock-based compensation expense

 

$

4,907

 

 

$

1,683

 

 

$

9,459

 

 

$

2,873