Quarterly report pursuant to Section 13 or 15(d)

Share-Based Compensation (Tables)

Share-Based Compensation (Tables)

9 Months Ended

Sep. 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 nine months ended September 30, 2018:

	Number of			Weighted Average Grant Date Fair
	Shares			Value per Share
Unvested at December 31, 2017		189,342		$	3.14
Granted		—
Vested		(82,177	)	$	3.14
Forfeited		—
Unvested at September 30, 2018 (unaudited)		107,165		$	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:

	Nine Months Ended September 30,
	2018			2017
Volatility		60	%		60	%
Expected term in years		6.25			6.25
Dividend rate		0	%		0	%
Risk-free interest rate	2.16 - 2.63%				1.63	%
Share price	$9.06 - $13.00			$3.30
Fair value of option on grant date	$5.28 - $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		449,986		12.97		9.66
Exercised		—
Forfeited		—
Options outstanding September 30, 2018		698,114	$	9.54		9.27		821
Vested at September 30, 2018 (unaudited)		78,862
Exercisable at September 30, 2018 (unaudited)		78,862	$	3.24		8.40		267

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

The Company granted 36,924 RSUs to directors during the nine months ended September 30, 2018. No RSUs were awarded during the nine months ended September 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 September 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 September 30,				Nine Months Ended September 30,
	2018		2017		2018		2017
	(unaudited)				(unaudited)
Research and development expense	$	83	$	14	$	280	$	99
General and administrative expense		391		86		598		181