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Equity Incentive Plans (Tables)
9 Months Ended
Sep. 30, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Stock Option Activity

 

The following table summarizes stock option activity during the nine months ended September 30, 2019:

 

 

 

Shares Subject to

Options Outstanding

 

 

Weighted-

Average

 

 

 

 

 

 

 

 

 

 

 

Weighted-

 

 

Remaining

 

 

 

 

 

 

 

 

 

 

 

Average

Exercise

 

 

Contractual

Life

 

 

Aggregate

 

 

 

Shares

 

 

Price

 

 

(Years)

 

 

Intrinsic Value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(in thousands)

 

Outstanding as of December 31, 2018

 

 

5,107,329

 

 

$

7.51

 

 

 

9.7

 

 

$

16,343

 

Options granted

 

 

3,441,901

 

 

$

20.79

 

 

 

 

 

 

 

 

 

Option exercised

 

 

(173,712

)

 

$

3.04

 

 

 

 

 

 

 

 

 

Options forfeited/cancelled

 

 

(275,657

)

 

$

12.30

 

 

 

 

 

 

 

 

 

Outstanding as of September 30, 2019

 

 

8,099,861

 

 

$

13.09

 

 

 

9.2

 

 

$

44,015

 

Options vested and exercisable as of September 30,

   2019

 

 

644,722

 

 

$

3.88

 

 

 

8.7

 

 

$

8,323

 

Summary of Restricted Stock Activity

The summary of the Company’s restricted stock activity is as follows:

 

 

 

Number of

 

 

Weighted-

 

 

 

Restricted

 

 

Average

 

 

 

Stock Units

 

 

Grant Date

 

 

 

Outstanding

 

 

Fair Value

 

Nonvested at December 31, 2018

 

 

7,482,032

 

 

$

4.01

 

Granted

 

 

 

 

 

 

Vested

 

 

(2,428,863

)

 

$

4.11

 

Forfeited

 

 

 

 

 

 

Nonvested at September 30, 2019

 

 

5,053,169

 

 

$

3.96

 

Stock-Based Compensation Expense Reported in Condensed Consolidated Statements of Operations

Stock-based compensation expense has been reported in the Company’s condensed consolidated statements of operations as follows (in thousands):

 

 

 

Three months ended

 

 

Nine months ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Research and development

 

$

2,727

 

 

$

144

 

 

$

6,483

 

 

$

200

 

General and administrative

 

 

3,001

 

 

 

18,025

 

 

 

7,474

 

 

 

19,948

 

Total stock-based compensation

 

$

5,728

 

 

$

18,169

 

 

$

13,957

 

 

$

20,148