In January 2019, the number of shares of common stock available for issuance under the 2015 Omnibus Incentive Plan (“2015 Plan”), was increased by 993,438 shares due to the automatic annual provision to increase shares available under the 2015 Plan. As of September 30, 2019, the total number of shares of common stock available for issuance under the 2015 Plan was 589,911. The Company recognized stock-based compensation expense related to the issuance of stock option awards to employees and non-employees and related to the 2015 Employee Stock Purchase Plan (“ESPP”) in the condensed consolidated statements of comprehensive loss as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
	(In thousands)				(In thousands)
Research and development	$	510	$	472	$	1,581	$	1,440
General and administrative		1,040		1,265		2,899		3,289
Total	$	1,550	$	1,737	$	4,480	$	4,729

Compensation expense by type of award in the three and nine months ended September 30, 2019 and 2018 was as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
	(In thousands)				(In thousands)
Stock options	$	1,524	$	1,701	$	4,391	$	4,635
Employee Stock Purchase Plan		26		36		89		94
Total	$	1,550	$	1,737	$	4,480	$	4,729

During the nine months ended September 30, 2019, the Company granted 1,343,025 stock options having service-based vesting conditions to certain executives, employees and consultants. The grant date fair value of the options granted in the nine months ended September 30, 2019 was $6.5 million, or $4.87 per share on a weighted-average basis, and will be recognized as compensation expense over the requisite service period of one to four years.

During the nine months ended September 30, 2019, the Company granted to certain employees 583,000 stock options that contain performance-based vesting criteria, primarily related to the achievement of certain clinical and regulatory development milestones related to product candidates. Recognition of stock-based compensation expense associated with these performance-based stock options commences when the performance condition is considered probable of achievement, using management’s best estimates, which consider the inherent risk and uncertainty regarding the future outcomes of the milestones.

The achievement of one of the performance milestones was considered to be probable and the Company recorded approximately $131,000 of stock compensation expense associated with these awards for the nine months ended September 30, 2019. For the remaining milestones, achievement of the performance conditions was considered not probable, nor met, and therefore no expense has been recognized related to these awards for the nine months ended September 30, 2019.

There were 3,690 and 25,857 options exercised during the three and nine months ended September 30, 2019, resulting in total proceeds of $27,000 and $178,000, respectively, there were zero and 7,850 options exercised during the three and nine months ended September 30, 2018, resulting in total proceeds of $0 and $26,000, respectively. The intrinsic value of the options exercised during the three and nine months ended September 30, 2019 was $6,000 and $13,000, respectively, and $0 and $91,000, respectively, during the three and nine months ended September 30, 2018. In accordance with the Company’s policy, the shares were issued from a pool of shares reserved for issuance under the 2007 and 2015 Plans.

As of September 30, 2019, there was $11.5 million of unrecognized compensation cost related to employee and non-employee unvested stock options granted under the 2015 and 2007 Plans, which is expected to be recognized over a weighted-average remaining service period of 2.4 years. Stock compensation costs have not been capitalized by the Company.