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Stock-based Compensation Expense (Tables)
 12 Months Ended
Dec. 31, 2020
Statement [Line Items]  
Summary of Stock Option Activity The following table summarizes the Company’s stock option activity under the 2019 Plan and 2016 Plan during the year ended December 31, 2020:
Weighted Average Assumptions Used to Calculate Fair Value of Stock Option

The fair value of stock options granted during the years ended December 31, 2020 and 2019 under the 2019 Plan and 2016 Plan has been calculated on the date of grant using the following weighted average assumptions:

 

 

 

Year
Ended
December 31, 2020

 

 

Year
Ended
December 31, 2019

 

Risk-free interest rate

 

 

1.2

%

 

 

2.3

%

Expected dividend yield

 

 

0.0

%

 

 

0.0

%

Expected term (years)

 

 

6.0

 

 

 

6.0

 

Expected stock price volatility

 

 

77.6

%

 

 

80.9

%
Summary of Stock-Based Compensation Expense Recognized

The total compensation cost recognized in the statements of operations associated with all stock-based compensation awards granted by the Company is as follows (in thousands):

 

 

 

Year Ended
December 31,

 

 

 

2020

 

 

2019

 

General and administrative

 

$

3,970

 

 

$

1,977

 

Research and development

 

 

3,380

 

 

 

2,247

 

Total stock-based compensation expense

 

$

7,350

 

 

$

4,224

 
2019 Plan and 2016 Plan  
Statement [Line Items]  
Summary of Restricted Stock Activity

The following table summarizes the Company’s restricted stock activity under the 2019 Plan and 2016 Plan since December 31, 2018:

 

 

 

Number of
Shares

 

 

Weighted
Average Grant
Date Fair
Value

 

Unvested at December 31, 2018

 

 

757,022

 

 

$

3.07

 

Granted

 

 

—

 

 

 

—

 

Vested

 

 

(349,149

)

 

 

3.10

 

Repurchased

 

 

(61,450

)

 

 

3.02

 

Unvested at December 31, 2019

 

 

346,423

 

 

$

3.05

 

Granted

 

 

—

 

 

 

—

 

Vested

 

 

(233,563

)

 

 

3.00

 

Repurchased

 

 

(29,882

)

 

 

3.05

 

Unvested at December 31, 2020

 

 

82,978

 

 

 

3.19

 
Grants Outside of 2016 Stock Incentive Plan and 2019 Stock Incentive Plan  
Statement [Line Items]  
Summary of Restricted Stock Activity

The following table summarizes the Company’s restricted stock activity outside of the 2019 Plan and 2016 Plan since December 31, 2018:

 

 

 

Number of
Shares

 

 

Weighted
Average Grant
Date Fair
Value

 

Unvested at December 31, 2018

 

 

446,789

 

 

$

2.94

 

Granted

 

 

—

 

 

 

—

 

Vested

 

 

(112,142

)

 

 

2.94

 

Repurchased

 

 

—

 

 

 

—

 

Unvested at December 31, 2019

 

 

334,647

 

 

$

2.94

 

Granted

 

 

—

 

 

 

—

 

Vested

 

 

(291,789

)

 

 

2.94

 

Repurchased

 

 

—

 

 

 

—

 

Unvested at December 31, 2020

 

 

42,858

 

 

$

2.93