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Share-Based Compensation (Tables)
 6 Months Ended 12 Months Ended
Jun. 30, 2019
Dec. 31, 2018
Share-Based Compensation    
Schedule of share-based compensation expense

Share-based compensation expense was included in general and administrative and research and development expenses as follows in the accompanying condensed statements of comprehensive loss (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

June 30, 

 

 

June 30, 

 

 

 

2019

    

 

2018

 

    

 

2019

 

    

2018

 

General and administrative

$
275

 

$
436

 

 

$
559

 

$

1,147

 

Research and development

 
163

 

 
473

 

 

 
352

 

 

782

 

Total share-based compensation

$
438

 

$
909

 

 

$
911

 

$

1,929

 

 

Share-based compensation expense was included in general and administrative and research and development costs as follows in the accompanying statements of comprehensive loss (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended

 

 

 

December 31, 

 

 

 

2018

    

2017

 

2016

 

General and administrative

 

$

2,378

 

$

4,091

 

$

1,166

 

Research and development

 

 

1,753

 

 

1,182

 

 

552

 

Total share-based compensation

 

$

4,131

 

$

5,273

 

$

1,718

 

 

Schedule of RSA grant activity  

 

 

 

 

 

 

 

 

 

 

Number of

 

Weighted-Average

 

 

 

Shares

 

Fair Value (per share)

 

 

 

 

 

 

 

Non‑vested at December 31, 2015

 

 

348,093

 

$
0.09

Granted

 

 

—

 

$

—

Vested

 

 

(344,084)

 

$
0.09

Non‑vested at December 31, 2016

 

 

4,009

 

$
0.21

Granted

 

 

—

 

$

—

Vested

 

 

(4,009)

 

$
0.21

Non‑vested at December 31, 2017

 

 

—

 

$

—

Granted

 

 

—

 

$

—

Vested

 

 

—

 

$

—

Non‑vested at December 31, 2018

 

 

—

 

$

—

 

Schedule of stock option plan activity  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted‑

 

 

 

 

 

 

 

 

Weighted

 

Average

 

 

 

 

 

 

 

Average

 

Remaining

 

Aggregate

 

 

 

Number of

 

Exercise

 

Contractual

 

Intrinsic

 

 

 

Options

 

Price

 

Term (years)

 

Value(1)

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at December 31, 2015

 

302,842

 

$

2.43

 

9.60

 

$

1,031,000

 

Granted

 

2,023,700

 

$

10.07

 

—

 

 

—

 

Exercised

 

—

 

$

—

 

—

 

 

—

 

Forfeited/Cancelled

 
(83,742)

 

$

9.12

 

—

 

 

—

 

Outstanding at December 31, 2016

 

2,242,800

 

$

9.07

 

9.48

 

$

(2,759,000)

 

Granted

 

248,500

 

$

12.24

 

—

 

 

—

 

Exercised

 

(23,910)

 

$

1.92

 

—

 

 

—

 

Forfeited/Cancelled

 

(3,250)

 

$

1.34

 

—

 

 

—

 

Outstanding at December 31, 2017

 

2,464,140

 

$

9.46

 

8.58

 

$

(3,715,000)

 

Granted

 

822,000

 

$

8.24

 

—

 

 

—

 

Exercised

 

(40,398)

 

$

2.25

 

—

 

 

—

 

Forfeited/Cancelled

 

(444,968)

 

$

10.61

 

—

 

 

—

 

Outstanding at December 31, 2018

 

2,800,774

 

$

9.02

 

7.96

 

$

(22,994,287)

 

Vested and exercisable at December 31, 2018

 

1,812,181

 

$

9.15

 

7.72

 

$
(15,120,294)

 

Vested and expected to vest at December 31, 2018

 

2,800,774

 

$

9.02

 

7.96

 

$

(22,994,287)

 

 

(1)

The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying options and the fair value of our common stock as of December 31, 2018, 2017 and 2016 of $0.81,  $7.95 and $7.84 per share, respectively.
Schedule of weighted-average assumptions, option-pricing model

The weighted‑average assumptions used in the Black‑Scholes option‑pricing and Monte Carlo simulation models are as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

 

June 30,

 

 

June 30,

 

 

    

 

2019

    

2018

 

    

2019

    

2018

 

 

 

 

 

 

 

 

 

 

 

 

 

Expected stock price volatility

 

 

 —

 
66.0%

 

 

 —

 
66.3%

 

Expected life of options (years)

 

 

 —

 
5.7

 

 

 —

 
5.8

 

Expected dividend yield

 

 

 —

 
0%

 

 

 —

 
0%

 

Risk free interest rate

 

 

 —

 
2.9%

 

 

 —

 
2.7%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year  Ended

 

 

 

December 31,

 

 

    

2018

    

2017

    

2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Expected stock price volatility

 

 
66.3

%

 

 
65.8

%

 

 
71.447

%

 

Expected life of options (years)

 

 
5.8

 

 

 
5.9

 

 

 
6.02

 

 

Expected dividend yield

 

 
0

%

 

 
0

%

 

 
0

%

 

Risk free interest rate

 

 
2.7

%

 

 
2.0

%

 

 
1.2

%