Equity Incentive Plans (Tables)

6 Months Ended

Jun. 30, 2019

Equity Incentive Plans [Abstract]

Assumptions used in the black-Scholes model

The assumptions used in the Black-Scholes model are presented below:

	Six Months Ended June 30,
	2019		2018
Risk-free interest rate	2.20 to 2.21	%	-	%
Expected volatility	89 to 90	%	-	%
Expected term (in years)	5.75 to 6.25		-
Expected dividend yield	0	%	-	%

Allocation of Stock-Based Compensation Expenses

The table below summarizes the total stock-based compensation expense included in the Company’s consolidated statements of operations for the periods presented:

	Three Months Ended June 30,				Six Months Ended June 30,
	2019		2018		2019		2018
Research and development	$	251,000	$	2,000	$	251,000	$	7,000
General and administrative		473,000		11,000		474,000		32,000
Total stock-based compensation	$	724,000	$	13,000	$	725,000	$	39,000

Summary of Stock Option Activity

Stock option transactions during the six months ended June 30, 2019 are presented below:

				Weighted
				Average
		Weighted		Remaining
		Average		Contractual	Aggregate
		Exercise		Term	Intrinsic
	Shares	Price		(Years)	Value
Outstanding at December 31, 2018	136,463	$	36.31	5.02		—
Assumed in the Merger	52,602		56.60			—
Granted	1,157,825		3.15			996,000
Forfeited/Cancelled	(374)		147.35			—
Outstanding at June 30, 2019	1,346,516	$	8.56	9.11	$	996,000
Vested and expected to vest at June 30, 2019	1,346,516	$	8.56	9.11	$	996,000
Exercisable at June 30, 2019	179,202	$	41.92	4.09	$	—

Schedule of restricted stock awards

Restricted stock award transactions under the Assumed 2016 Plan during the six months ended June 30, 2019 are presented below:

			Weighted Avg
			Grant Date
	Shares		Fair Value
Outstanding at December 31, 2018		416,856	$	29.17
Granted		—		—
Forfeited/Cancelled		(8,467)		25.14
Outstanding at June 30, 2019		408,389	$	29.25

Shares Reserved for Future Issuance

As of June 30, 2019, the Company had reserved shares of its common stock for future issuance as follows:

	Shares Reserved
Stock options outstanding	1,346,516
Employee stock purchase plan	5,462
Available for future grants under the 2016 Plan	4,102
Warrants outstanding	1,854,262
Total shares reserved	3,210,342