Stock-Based Compensation

3 Months Ended

Mar. 31, 2016

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

7. Stock-Based Compensation

During the three months ended March 31, 2016, the Company issued an aggregate of 84,417 options to purchase common stock under its 2015 Equity Incentive Plan for an aggregate fair value of $332,000.

Total stock-based compensation recognized for the three months ended March 31, 2016 and 2015 was as follows (in thousands):

	Three Months Ended March 31,
	2016		2015
Research and development	$	54	$	14
General and administrative		86		24
Total stock-based compensation expense	$	140	$	38

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

	Three Months Ended
	March 31, 2016
Expected term		5.94
Expected volatility		87	%
Risk-free interest		1.26	%
Dividend yield		0	%