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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Option Activity Includes Options Granted

The following table, which includes options granted under the 2015 Plan, 2018 Plan and the Non-Plan Option, summarizes option activity:

 

 

 

Shares

Available

for Grant

 

 

Shares

Subject to

Outstanding

Options

 

 

Weighted

Average

Exercise

Price Per

Share

 

 

Weighted

Average

Remaining

Contractual

Term

(in years)

 

Balance at December 31, 2015

 

 

871,226

 

 

 

20,200

 

 

$

0.40

 

 

 

8.79

 

Options authorized

 

 

1,133,987

 

 

 

 

 

 

 

 

 

 

 

 

Options granted

 

 

(746,825

)

 

 

746,825

 

 

$

0.59

 

 

 

 

 

Options exercised

 

 

 

 

 

(637,107

)

 

$

0.48

 

 

 

 

 

Options repurchased

 

 

24,987

 

 

 

 

 

$

0.40

 

 

 

 

 

Balance at December 31, 2016

 

 

1,283,375

 

 

 

129,918

 

 

$

1.20

 

 

 

9.84

 

`Options authorized

 

 

1,568,397

 

 

 

 

 

 

 

 

 

 

 

 

Options granted

 

 

(1,063,019

)

 

 

1,063,019

 

 

$

1.61

 

 

 

 

 

Options exercised

 

 

 

 

 

(643,024

)

 

$

1.45

 

 

 

 

 

Options forfeited or canceled

 

 

5,797

 

 

 

(5,797

)

 

$

1.28

 

 

 

 

 

Options repurchased

 

 

60,690

 

 

 

 

 

$

0.49

 

 

 

 

 

Balance at December 31, 2017

 

 

1,855,240

 

 

 

544,116

 

 

$

1.71

 

 

 

9.28

 

Options authorized

 

 

3,570,000

 

 

 

 

 

 

 

 

 

 

 

 

 

Options granted

 

 

(1,645,489

)

 

 

1,645,489

 

 

$

8.19

 

 

 

 

 

Options exercised

 

 

 

 

 

(720,756

)

 

$

4.64

 

 

 

 

 

Options forfeited or canceled

 

 

10,769

 

 

 

(10,769

)

 

$

5.25

 

 

 

 

 

Options repurchased

 

 

10,671

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at December 31, 2018

 

 

3,801,191

 

 

 

1,458,080

 

 

$

7.55

 

 

 

8.99

 

Options outstanding and exercisable as of

   December 31, 2018

 

 

 

 

 

 

238,721

 

 

$

6.49

 

 

 

8.87

 

Options vested and expected to vest as of

   December 31, 2018

 

 

 

 

 

 

1,458,080

 

 

$

7.55

 

 

 

8.99

 

Summary of Employee and Non-Employee Stock-based Compensation Expense

The following table summarizes employee and non-employee stock-based compensation expense for the years ended December 31, 2018, 2017 and 2016, and also the allocation within the consolidated statements of operations and comprehensive loss (in thousands):

 

 

 

Year Ended

December 31,

2018

 

 

Year Ended

December 31,

2017

 

 

Year Ended

December 31,

2016

 

Research and development

 

$

2,255

 

 

$

222

 

 

$

67

 

General and administrative

 

 

1,619

 

 

 

273

 

 

 

23

 

Total stock-based compensation

 

$

3,874

 

 

$

495

 

 

$

90

 

Schedule of Assumptions Used to Calculate Fair Value of Stock-Based Compensation The following assumptions were used to calculate the fair value of stock-based compensation as of December 31, 2018, 2017 and 2016:

 

 

 

Stock Options

 

 

ESPP

 

 

 

Year Ended

December 31,

2018

 

 

Year Ended

December 31,

2017

 

 

Year Ended

December 31,

2016

 

 

Year Ended

December 31,

2018

 

Risk-free interest rate

 

1.2% - 3.1%

 

 

1.66% - 2.20%

 

 

1.2% - 2.45%

 

 

2.11% - 2.63%

 

Expected term (in years)

 

5.16-9.95

 

 

5.95-9.99

 

 

6.25-9.84

 

 

.5-2.0

 

Volatility

 

58.7%-75.5%

 

 

67.0%-71.7%

 

 

67.0 - 77.8%

 

 

54.3% - 65.5%

 

Dividend yield

 

0%

 

 

0%

 

 

0%

 

 

0%

 

 

Summary of Non-Vested Restricted Stock

A summary of the Company’s non-vested restricted stock for the periods presented is as follows:

 

 

 

Number of

Shares

 

 

Weighted

Average Grant

Date Fair Value

 

 

Remaining

Contractual

Term (Years)

 

Balance, December 31, 2015

 

 

2,372,684

 

 

$

0.000396

 

 

 

3.4

 

Vested during the year

 

 

694,444

 

 

$

0.000396

 

 

 

 

 

Balance, December 31, 2016

 

 

1,678,240

 

 

$

0.000396

 

 

 

2.4

 

Vested during the year

 

 

694,444

 

 

$

0.000396

 

 

 

 

 

Balance, December 31, 2017

 

 

983,796

 

 

$

0.000396

 

 

 

1.4

 

Vested during the year

 

 

694,444

 

 

$

0.000396

 

 

 

 

 

Balance, December 31, 2018

 

 

289,352

 

 

$

0.000396

 

 

 

0.4