Quarterly report pursuant to Section 13 or 15(d)

Stock Plans and Stock-Based Compensation

v3.21.2
Stock Plans and Stock-Based Compensation
6 Months Ended
Jun. 30, 2021
Share-based Payment Arrangement [Abstract]  
Stock Plans and Stock-Based Compensation
5. Stock Plans and Stock-Based Compensation
Stock Plans
As
permitted
under the provisions of the Company’s 2013 Equity Incentive Plan (the 2013 Plan), the Board of Directors reduced the automatic increase in the share reserve from 5% to 4% of common shares outstanding as of December 31, 2020, thereby adding an additional 2,757,843 shares to 2013 Plan share reserve on January 1, 2021. As of June 30, 2021, there were 1,565,901
shares available for grant under the 2013 Plan. All
 
750,000
shares that were available under the 2020 New Hire Plan (the 2020 Plan) had been issued during the three months ended June 30, 2021. During the three and six months ended June 30, 2021, the Company
granted
1,034,000 and 2,346,216 stock options, respectively, which were related to option grants issued to new and existing employees.
Stock-Based Compensation Expense
Stock-based compensation expense is
included
in the condensed consolidated statements of operations and comprehensive loss and is as follows (in thousands):
 
 
  
Three Months Ended
June 30,
 
  
Six Months Ended
June 30,
 
 
  
2021
 
  
2020
 
  
2021
 
  
2020
 
Research and development
   $ 1,151      $ 664      $ 2,228      $ 1,108  
General and administrative
     1,406        299        2,834        1,853  
    
 
 
    
 
 
    
 
 
    
 
 
 
Total stock-based
compensation
expense
   $ 2,557      $ 963      $ 5,062      $ 2,961