Quarterly report pursuant to Section 13 or 15(d)

Common Stock (Tables)

v3.20.2
Common Stock (Tables)
9 Months Ended
Sep. 30, 2020
Equity [Abstract]  
Summary of Stock Option Activity A summary of stock option activity is presented below:

 

 

Number of

Shares

 

 

Weighted

Average

Exercise Price

 

 

Weighted

Average

Remaining

Contractual

Term (years)

 

 

Aggregate

Intrinsic

Value

 

Outstanding as of January 1, 2020

 

 

2,129,632

 

 

$

5.12

 

 

 

9.2

 

 

$

18,844

 

Granted

 

 

797,572

 

 

 

13.06

 

 

 

 

 

 

 

 

 

Exercised

 

 

(21,445

)

 

 

6.30

 

 

 

 

 

 

 

121

 

Forfeited

 

 

(16,714

)

 

 

6.30

 

 

 

 

 

 

 

 

 

Outstanding as of September 30, 2020

 

 

2,889,045

 

 

 

7.30

 

 

 

8.8

 

 

 

12,622

 

Options Exercisable at September 30, 2020

 

 

784,221

 

 

 

3.58

 

 

 

8.3

 

 

 

5,745

 

 

Schedule of Assumptions Used to Estimate Fair Value of Stock Options

The fair value of each award is estimated using Black-Scholes based on the following assumptions:

 

 

Nine months ended September 30,

 

 

2020

 

2019

Risk-free interest rate

 

0.28%—1.48%

 

1.39%—2.59%

Expected term

 

5.7—6.1 years

 

0.3—6.1 years

Expected volatility

 

70%—79%

 

70%—76%

Expected dividend yield

 

0%

 

0%

Summary of Stock-Based Compensation

The Company recognizes stock-based compensation with respect to equity awards under the 2018 and 2019 Plans, the 2019 ESPP and with respect to vesting common stock issued to founders. The Company has recorded stock-based compensation in the accompanying statements of operations as follows:

 

 

 

Three Months Ended

September 30,

 

 

Nine Months Ended

September 30,

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Research and development

 

$

539

 

 

$

365

 

 

$

1,449

 

 

$

962

 

General and administrative

 

 

588

 

 

 

204

 

 

 

1,618

 

 

 

519

 

Total

 

$

1,127

 

 

$

569

 

 

$

3,067

 

 

$

1,481