Stock-Based Compensation

3 Months Ended

Mar. 31, 2020

8. Stock-Based Compensation

Service-Based Stock Options

During the three months ended March 31, 2020, the Company granted options with service-based vesting conditions for the purchase of 3,088,950 shares of common stock with a weighted average exercise price of $7.77 per share and a weighted average grant-date fair value of $4.86 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 March 31,
	2020		2019
Research and development expenses	$	2,111	$	1,991
General and administrative expenses		6,377		7,487
	$	8,488	$	9,478

As of March 31, 2020, total unrecognized compensation cost related to the unvested stock-based awards was $68.4 million, which is expected to be recognized over a weighted average period of 2.3 years.