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Equity Incentive Plans (Tables)
6 Months Ended
Jun. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Stock Option Activity

The following table summarizes stock option activity during the six months ended June 30, 2020:

 

 

 

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, 2019

 

 

8,538,060

 

 

$

13.67

 

 

 

9.0

 

 

$

35,385

 

Options granted

 

 

1,911,222

 

 

$

14.30

 

 

 

 

 

 

 

 

 

Option exercised

 

 

(44,007

)

 

$

3.49

 

 

 

 

 

 

 

 

 

Options forfeited/cancelled

 

 

(541,572

)

 

$

12.96

 

 

 

 

 

 

 

 

 

Outstanding as of June 30, 2020

 

 

9,863,703

 

 

$

13.88

 

 

 

8.6

 

 

$

22,225

 

Options vested and exercisable as of June 30, 2020

 

 

2,791,102

 

 

$

12.31

 

 

 

8.0

 

 

$

9,989

 

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, 2019

 

 

4,648,526

 

 

$

3.98

 

Granted

 

 

1,176,340

 

 

$

11.94

 

Vested

 

 

(809,274

)

 

$

3.71

 

Forfeited

 

 

(51,048

)

 

$

14.21

 

Nonvested at June 30, 2020

 

 

4,964,544

 

 

$

5.80

 

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

 

 

Six months ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Research and development

 

$

4,782

 

 

$

2,463

 

 

$

9,368

 

 

$

3,756

 

General and administrative

 

 

4,118

 

 

 

2,677

 

 

 

7,776

 

 

 

4,473

 

Total stock-based compensation

 

$

8,900

 

 

$

5,140

 

 

$

17,144

 

 

$

8,229