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Stock-Based Compensation (Tables)
6 Months Ended 12 Months Ended
Jun. 30, 2020
Dec. 31, 2019
Share-based Payment Arrangement [Abstract]    
Summary of Outstanding Warrants  

A summary of the outstanding warrants at both December 31, 2019 and March 31, 2020 is as follows:

 

Date Granted

   Number      Exercise Price      Expiration Date  

6/17/2015

     5,267,959      $ 2.8474        7/17/2022  

12/7/2015

     5,267,959      $ 2.8474        7/17/2022  

9/7/2016

     5,268,035      $ 2.8474        7/17/2022  

7/11/2017

     5,268,034      $ 2.8474        7/17/2022  
Schedule of Unvested Profits Interest Unit Activity  

Unvested profits interests unit’s activity for the year ended December 31, 2019 and 2018, was as follows:

 

     Number of
Nonvested
Profits
Interests
     Weighted
Average
Grant Date
Fair Value
 

Outstanding at January 1, 2018

     9,765,439        0.08  

Granted

     16,143,382        0.22  

Vested

     (4,790,327      0.07  

Forfeited

     (1,186,217      0.12  
  

 

 

    

 

 

 

Outstanding at December 31, 2018

     19,932,277        0.19  

Granted

     19,643,100        0.16  

Vested

     (7,044,620      0.14  

Forfeited

     (10,588,658      0.21  
  

 

 

    

 

 

 

Outstanding at December 31, 2019

     21,942,099        0.18  
  

 

 

    

 

 

 

Expected to vest at December 31, 2018

     19,932,277     

Expected to vest at December 31, 2019

     21,942,099     
Schedule of Value Profits Interests Granted

The assumptions used to value profits interests granted during the six months ended June 30, 2020 and 2019 are as follows:

 

     June 30,
2020
    June 30,
2019
 

Expected term (in years)

     6.0       6.0  

Risk-free rate

     0.36     2.43

Expected volatility

     140.45     72.02

Expected dividend yield

     0     0

The assumptions used to value profits interests granted during the years ended December 31, 2019 and 2018 were as follows:

 

         2019             2018      

Expected term (in years)

     6.0       6.0  

Risk-free rate

     1.74     2.51

Expected volatility

     72.75     60.28

Expected dividend yield

     0.00     0.00
Schedule of Unvested Restricted Stock Activity

A summary of the Company’s unvested restricted stock activity and related information during the six months ended June 30, 2020 is as follows:

 

Weighted Average

Grant Date

Fair Value

             

Nonvested, January 1, 2020

     2,038,955        2.04  

Granted

     879        2.34  

Vested

     (150,379      0.57  

Forfeited or canceled

     (634,491      1.83  
  

 

 

    

Nonvested, June 30, 2020

     1,254,965        2.33  
  

 

 

    
 
Schedule of Stock-Based Compensation Activity

The Company has recognized the following compensation cost related to employee and non-employee stock-based compensation activities (in thousands):

 

     Three Months Ended
June 30,
     Six Months Ended
June 30,
 
     2020      2019      2020      2019  

Research and development

   $ 31      $ 61      $ 112      $ 175  

General and administrative

     152        124        318        265  
  

 

 

    

 

 

    

 

 

    

 

 

 

Total

   $ 183      $ 185      $ 430      $ 440