Quarterly report pursuant to Section 13 or 15(d)

Share-Based Compensation (Tables)

Share-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2018

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summary of Restricted Ordinary Shares Activity

The following table summarizes restricted ordinary shares activity for the six months ended June 30, 2018:

	Number of			Weighted Average grant date fair
	Shares			value per share
Unvested at December 31, 2017		189,342		$	3.14
Granted		—
Vested		(46,266	)	$	3.14
Forfeited		—
Unvested at June 30, 2018 (unaudited)		143,076		$	3.14

Schedule of Assumptions Used to Determine Grant Date Fair Value of Employee and Director Options Granted

The assumptions that the Company used to determine the grant date fair value of employee and director options granted were as follows, presented on a weighted average basis:

	Six months ended June 30,
	2018			2017
Volatility		60	%		60	%
Expected term in years		6.25			6.25
Dividend rate		0	%		0	%
Risk-free interest rate		2.16	%		1.63	%
Share price	$12.20 - $13.00			$	3.30
Fair value of option on grant date	$7.03 - $7.49			$	1.88

Summary of Number of Options Outstanding and Weighted-average Exercise Price

The following table summarizes the number of options outstanding and the weighted-average exercise price:

	Number of Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life in Years		Aggregate Intrinsic Value (in thousands)
Options outstanding December 31, 2017		248,128	$	3.31		9.44
Granted		447,984		12.99		9.92
Exercised		—
Forfeited		—
Options outstanding June 30, 2018		696,112	$	9.54		9.57		1,825
Vested at June 30, 2018 (unaudited)		32,196
Exercisable at June 30, 2018 (unaudited)		32,196	$	3.17		8.15		766

Summary of Number of RSUs Granted and Weighted-average Grant Date Fair Value of RSUs

The Company granted 36,924 RSUs to directors for the six month period ended June 30, 2018. No RSUs were awarded for the six month period ended June 30, 2017.

The table below shows the number of RSUs granted covering an equal number of our ordinary shares and the weighted-average grant date fair value of the RSUs granted:

	Number of Shares		Weighted average grant date fair value per share
RSUs outstanding December 31, 2017		—
Granted		36,924	$	13.00
Shares vested		—
Forfeited		—
RSUs outstanding June 30, 2018		36,924	$	13.00

Summary of Share-based Compensation Expense

The Company’s share-based compensation expense was classified in the consolidated statements of operations and comprehensive loss as follows:

	Three months ended June 30,				Six months ended June 30,
	2018		2017		2018		2017
	(unaudited)				(unaudited)
Research and development expense	$	118	$	42	$	197	$	85
General and administrative expense		149		48		207		95