Quarterly report pursuant to Section 13 or 15(d)

Stock Plans and Stock-Based Compensation

v3.21.2
Stock Plans and Stock-Based Compensation
9 Months Ended
Sep. 30, 2021
Share-based Payment Arrangement [Abstract]  
Stock Plans and Stock-Based Compensation
6. 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 September 30, 2021, there were 1,684,340 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 nine months ended September 30, 2021. During the three and nine months ended September 30, 2021, the Company granted 133,124 and 2,479,340 stock options, respectively, which were option grants issued both 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
    
Nine Months Ended
 
    
September 30,
    
September 30,
 
    
2021
    
2020
    
2021
    
2020
 
Research and development
   $ 1,115      $ 1,055      $ 3,343      $ 2,163  
General and administrative
     1,434        1,497        4,268        3,350  
    
 
 
    
 
 
    
 
 
    
 
 
 
Total stock-based compensation expense
   $ 2,549      $ 2,552      $ 7,611      $ 5,513