Quarterly report pursuant to Section 13 or 15(d)

Stock Plans and Stock-Based Compensation

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Stock Plans and Stock-Based Compensation
6 Months Ended
Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock Plans and Stock-Based Compensation

8. Stock Plans and Stock-Based Compensation

Stock Plans

On January 1, 2017, the share reserve of the Company’s 2013 Equity Incentive Plan (“2013 Plan”), automatically increased by 1,172,350 shares. During the six months ended June 30, 2017, the Company granted options to purchase 1,490,801 of it is common stock to its employees, directors and a consultant. As of June 30, 2017, there were 260,765 shares available for grant under the 2013 Plan.

Stock-Based Compensation Expense

Stock-based compensation expense recorded was as follows (in thousands):

 

     Three Months Ended      Six Months Ended  
     June 30,      June 30,  
     2017      2016      2017      2016  
     (unaudited)      (unaudited)  

Research and development

   $ 268      $ 223      $ 628      $ 445  

General and administrative

     1,572        347        2,490        685  
  

 

 

    

 

 

    

 

 

    

 

 

 

Total

   $ 1,840      $ 570      $ 3,118      $ 1,130  
  

 

 

    

 

 

    

 

 

    

 

 

 

In connection with the retirement of the Company’s President and Chief Executive Officer, the Company recognized stock-based compensation expense associated with the acceleration of vesting of his stock options of $1.2 million and $1.8 million for the three and six months ended June 30, 2017, respectively.