Stockholders' Deficit (Tables)

9 Months Ended

Sep. 30, 2019

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summary of Unvested Shares

A summary of the Company’s unvested shares is as follows:

Balance at January 1, 2019	—
Vesting restrictions placed on previously issued shares	3,373,408
Sale of unvested common stock	2,524,852
Issuance of unvested restricted stock awards	16,260
Share vesting	(1,458,985	)
Balance at September 30, 2019	4,455,535

Summary of Stock Option Activity

A summary of the Company’s stock option activity and related information is as follows:

	Options Outstanding		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term		Aggregate Intrinsic Value (in thousands)
Balance at December 31, 2018		—
Options granted		1,400,528	$	9.10		—		—
Options exercised and shares vested		—		—		—		—
Options cancelled		—		—		—		—
Balance at September 30, 2019		1,400,528	$	9.10		9.94	$	5,575
Options exercisable as of September 30, 2019		—		—		—		—

Summary of Weighted-Average Assumptions Used to Estimate Fair Value of Stock Options Granted

The weighted-average assumptions used to estimate the fair value of stock options using the Black-Scholes option valuation model and the resulting weighted average fair value of stock options granted were as follows:

	Nine Months Ended September 30,
	2019			2018
Assumptions:
Expected term (in years)		6.07			—
Expected volatility		60.17	%		—
Risk free interest rate		1.58	%		—
Dividend yield		—			—

Summary of Stock-Based Compensation Expense

Stock-based compensation expense recognized for all equity awards, including founder stock, has been reported in the combined statements of operations as follows (in thousands):

	Three Months Ended September 30, 2019		Nine Months Ended September 30, 2019
Research and development expense	$	8	$	8
General and administrative expense		29		58
Total	$	37	$	66