Stock-Based Compensation

9 Months Ended

Sep. 30, 2019

Stock-Based Compensation

Stock-Based Compensation

10. Stock-Based Compensation

Service-Based Stock Options

During the nine months ended September 30, 2019, the Company granted options with service-based vesting conditions for the purchase of 2,519,604 shares of common stock with a weighted average exercise price of $13.65 per share and a weighted average grant-date fair value of $9.25 per share.

Stock-Based Compensation

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

	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
Research and development expenses	$	2,195	$	1,347	$	6,798	$	2,331
General and administrative expenses		8,163		8,540		23,642		16,071
	$	10,358	$	9,887	$	30,440	$	18,402

As of September 30, 2019, total unrecognized compensation cost related to the unvested stock-based awards was $76.9 million, which is expected to be recognized over a weighted average period of 2.3 years.