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Stockholders' Equity (Tables)

3 Months Ended

Mar. 31, 2019

Summary of Reserved Shares of Common Stock for Future Issuance

The Company has reserved for future issuance the following number of shares of common stock:

	March 31, 2019		December 31, 2018
Common stock options and RSUs outstanding ⁽¹⁾		12,320,514		9,309,204
Shares available for issuance under Akebia equity plans ⁽²⁾		8,027,219		4,526,563
Warrant to purchase common stock		509,611		509,611
Shares available for issuance under the ESPP ⁽³⁾		563,545		603,522
Total		21,420,889		14,948,900

⁽¹⁾	Includes awards granted under the 2014 Plan and the Inducement Award Program and awards issued in connection with the Merger.

⁽²⁾

On January 1, 2019, January 1, 2018 and January 1, 2017, the shares reserved for future grants under the 2014 Plan increased by 3,801,198, 1,575,329 and 1,265,863 shares, respectively, pursuant to the 2014 Plan Evergreen Provision. On December 12, 2018, the shares reserved for future grants under the 2014 Plan increased by 2,323,213 shares as a result of the Company’s addition of the Assumed Shares to the 2014 Plan. On December 19, 2017, the Company’s Board of Directors approved 750,000 shares for issuance as option awards in fiscal year 2018 under the Inducement Award Program. Additionally, on January 30, 2019, the Company’s Board of Directors approved 3,150,000 shares for issuance as option awards in fiscal year 2019 under the Inducement Award Program, or the 2019 Inducement Shares.

⁽³⁾

On February 28, 2018 and February 28, 2017, the shares reserved for future issuance under the ESPP remained unchanged. There were no increases in the shares reserved for future issuance pursuant to the ESPP Evergreen Provision subsequent to February 28, 2016 as the maximum aggregate number of shares available for purchase had reached its cap of 739,611.

Stock-Based Compensation Expense Related to Share-Based Awards

The Company has classified its stock-based compensation expense related to share-based awards as follows:

	Three Months Ended
	March 31, 2019		March 31, 2018
	(in thousands)
Research and development	$	878	$	618
Selling, general and administrative		1,216		1,614
Total	$	2,094	$	2,232

Schedule of Compensation Expense by Type of Award

Compensation expense by type of award:

	Three Months Ended
	March 31, 2019		March 31, 2018
	(in thousands)
Stock options	$	1,112	$	1,941
Restricted stock units		934		230
Employee stock purchase plan		48		61
Total	$	2,094	$	2,232