STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2019

Share-based Payment Arrangement [Abstract]

Schedule of Stock Options Valuation Assumptions

The assumptions that the Company used to determine the grant-date fair value of options granted to employees and directors were as follows, presented on a weighted-average basis:

	December 31,
	2019		2018
Risk-free interest rate	1.68	%	2.87	%
Expected term (in years)	6.0		6.1
Expected volatility	62.2	%	58.4	%
Expected dividend yield	0	%	0	%

The assumptions that the Company used to determine the fair value of options granted to non-employees were as follows, presented on a weighted-average basis:

	December 31,
	2019		2018
Risk-free interest rate	1.68	%	2.87	%
Expected term (in years)	6.0		9.7
Expected volatility	62.2	%	58.4	%
Expected dividend yield	0	%	0	%

Schedule of Stock Option Activity

The following table summarizes option activity under the 2017 Plan since December 31, 2018 (in thousands, except share and per share amounts):

	Options	Weighted Average Exercise Price		Weighted Average Remaining Life (in Years)	Intrinsic Value (in thousands)
Outstanding December 31, 2018	47,735	$	0.66	9.5	$	121
Granted	2,330,739	$	8.18
Outstanding December 31, 2019	2,378,474	$	8.03	9.7	$	6,722
Options vested or expected to vest as of December 31, 2019	2,378,474	$	8.03	9.7	$	6,722
Options exercisable as of December 31, 2019	111,633	$	4.98	9.2	$	656

Schedule of Restricted Stock Activity

The following table summarizes restricted stock activity since December 31, 2017:

	Number of shares	Weighted average grant date fair value
Unvested restricted common stock as of December 31, 2017	91,680	$	0.30
Granted	92,497	$	0.72
Vested	(51,532)	$	0.30
Unvested restricted common stock as of December 31, 2018	132,645	$	0.51
Granted	62,988	$	5.22
Vested	(195,633)	$	5.94
Unvested restricted common stock as of December 31, 2019	—	$	—

Schedule of Stock-Based Compensation

The Company recorded stock-based compensation expense in the following expense categories of its consolidated statements of operations (in thousands):

	December 31,
	2019		2018
Research and development	$	3,171	$	62
General and administrative	472		1
	$	3,643	$	63