Stock-Based Compensation

9 Months Ended

Sep. 30, 2016

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock-Based Compensation

8. Stock-Based Compensation

The Company classifies stock-based compensation expense in the accompanying condensed consolidated statements of operations and comprehensive loss based on the department to which a recipient belongs. The following table sets forth stock-based compensation expense related to options granted to employees and consultants for all periods presented (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2016		2015		2016		2015
Research and development	$	269	$	29	$	690	$	79
General and administrative		494		113		1,091		167
Total	$	763	$	142	$	1,781	$	246

The following summarizes option activity under the 2012 Equity Incentive Plan and 2015 Stock Option and Incentive Plan:

	Shares Subject to			Weighted Average
	Outstanding Options			Exercise Price Per Share
Balance at December 31, 2015		1,318,647			2.29
Options granted		786,034			10.02
Options exercised		(18,913	)		0.71
Options canceled		(50,991	)		5.19
Balance at September 30, 2016		2,034,777			5.22

Pursuant to the terms of the Company’s 2015 Employee Stock Purchase Plan (the “2015 ESPP”), on April 29, 2016, the Company issued 25,029 shares to participants in the 2015 ESPP in exchange for their contributions during the period from October 29, 2015 to April 29, 2016.

In relation to stock options to purchase common stock that vest upon the achievement of performance criteria, the Company recorded $147,000 in stock-based compensation expense as of September 30, 2016 because the Company concluded that the achievement of one of the four applicable performance criteria had been considered probable.