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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2015
Stock-Based Compensation |
Summary of Company's grant date fair value and assumptions used in determining fair value of stock options |
|  | 2015 |  | 2014 |  | 2013
Volatility |  | 78% - 82% |  | 83% - 86% |  | 86% - 96%
Risk-free interest rate |  | 1.31% - 1.75% |  | 1.46% - 1.83% |  | 0.65% - 1.65%
Dividend yield |  | 0.0% |  | 0.0% |  | 0.0%
Expected option term (in years) |  | 6.25 |  | 6.25 |  | 6.25
Weighted-average fair value of stock options granted |  | $14.20 |  | $11.74 |  | $8.16
Summary of Company's stock option activity |
|  | Number of Shares |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Life in Years |  | Aggregate Intrinsic Value (in '000) |
Options outstanding at January 1, 2013 |  |  | 1,817,839 |  | $ | 4.10 |  |  |  |  |  |  |
Granted |  |  | 2,323,500 |  |  | 10.53 |  |  |  |  |  |  |
Exercised |  |  | (371,743 | ) |  | 4.37 |  |  |  |  |  |  |
Forfeited and expired |  |  | (136,600 | ) |  | 10.49 |  |  |  |  |  |  |
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Options outstanding at December 31, 2013 |  |  | 3,632,996 |  |  | 7.94 |  |  |  |  |  |  |
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Vested and expected to vest at December 31, 2013 |  |  | 3,402,306 |  |  | 7.88 |  |  |  |  |  |  |
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Exercisable at December 31, 2013 |  |  | 484,213 |  |  | 4.25 |  |  |  |  |  |  |
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Options outstanding at December 31, 2013 |  |  | 3,632,996 |  | $ | 7.94 |  |  |  |  |  |  |
Granted |  |  | 1,600,452 |  |  | 16.10 |  |  |  |  |  |  |
Exercised |  |  | (283,057 | ) |  | 6.11 |  |  |  |  |  |  |
Forfeited and expired |  |  | (550,285 | ) |  | 11.42 |  |  |  |  |  |  |
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Options outstanding at December 31, 2014 |  |  | 4,400,106 |  |  | 10.59 |  |  |  |  |  |  |
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Vested and expected to vest at December 31, 2014 |  |  | 3,891,511 |  |  | 10.32 |  |  |  |  |  |  |
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Exercisable at December 31, 2014 |  |  | 1,235,710 |  |  | 6.90 |  |  |  |  |  |  |
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Options outstanding at December 31, 2014 |  |  | 4,400,106 |  | $ | 10.59 |  |  |  |  |  |  |
Granted |  |  | 1,902,850 |  |  | 20.45 |  |  |  |  |  |  |
Exercised |  |  | (481,140 | ) |  | 10.62 |  |  |  |  |  |  |
Forfeited and expired |  |  | (548,094 | ) |  | 15.43 |  |  |  |  |  |  |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Options outstanding at December 31, 2015 |  |  | 5,273,722 |  |  | 13.64 |  |  | 8.00 |  | $ | 29,699 |
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Vested and expected to vest at December 31, 2015 |  |  | 5,059,645 |  |  | 13.46 |  |  | 7.96 |  | $ | 29,240 |
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Exercisable at December 31, 2015 |  |  | 1,991,141 |  |  | 8.70 |  |  | 7.11 |  | $ | 19,128 |
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Summary of range of exercise prices and the number of stock options outstanding and exercisable |
Outstanding as of December 31, 2015 |  | Exercisable as of December 31, 2015 |
Range of Exercise Prices |  | Number of Options |  | Weighted Average Remaining Contractual Term (in years) |  | Weighted Average Exercise Price |  | Number of Options |  | Weighted Average Exercise Price |
$ | 3.03 |  | $ | 3.29 |  |  | 153,878 |  |  | 5.62 |  | $ | 3.05 |  |  | 152,017 |  | $ | 3.05 |
$ | 3.40 |  | $ | 3.40 |  |  | 708,314 |  |  | 6.69 |  | $ | 3.40 |  |  | 531,236 |  | $ | 3.40 |
$ | 3.60 |  | $ | 6.90 |  |  | 583,542 |  |  | 6.90 |  | $ | 6.01 |  |  | 389,433 |  | $ | 5.90 |
$ | 6.96 |  | $ | 12.44 |  |  | 693,090 |  |  | 7.37 |  | $ | 11.36 |  |  | 378,156 |  | $ | 11.35 |
$ | 12.58 |  | $ | 14.20 |  |  | 527,974 |  |  | 8.36 |  | $ | 12.78 |  |  | 189,989 |  | $ | 12.76 |
$ | 14.24 |  | $ | 16.07 |  |  | 768,900 |  |  | 8.48 |  | $ | 15.36 |  |  | 161,331 |  | $ | 14.46 |
$ | 16.09 |  | $ | 20.49 |  |  | 782,624 |  |  | 8.46 |  | $ | 19.28 |  |  | 183,354 |  | $ | 19.52 |
$ | 20.92 |  | $ | 22.14 |  |  | 106,300 |  |  | 9.14 |  | $ | 21.54 |  |  | 5,625 |  | $ | 21.54 |
$ | 22.76 |  | $ | 22.76 |  |  | 793,000 |  |  | 9.38 |  | $ | 22.76 |  |  | - |  |  | - |
$ | 22.84 |  | $ | 27.38 |  |  | 156,100 |  |  | 9.41 |  | $ | 23.76 |  |  | - |  |  | - |
Summary of Company's RSU activity |
|  | Number of RSU's |  | Weighted Average Grant Price |
Outstanding at January 1, 2013 |  |  | 215,525 |  | $ | 6.26 |
Granted |  |  | 55,317 |  |  | 6.77 |
Released |  |  | (177,316 | ) |  | 6.42 |
Forfeited |  |  | (885 | ) |  | 5.00 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Outstanding at December 31, 2013 |  |  | 92,641 |  | $ | 6.27 |
Granted |  |  | 20,502 |  |  | 19.47 |
Released |  |  | (92,641 | ) |  | 6.27 |
Forfeited |  |  | - |  |  | - |
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Outstanding at December 31, 2014 |  |  | 20,502 |  | $ | 19.47 |
Granted |  |  | 49,776 |  |  | 16.07 |
Released |  |  | (26,724 | ) |  | 18.68 |
Forfeited |  |  | - |  |  | - |
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Outstanding at December 31, 2015 |  |  | 43,554 |  | $ | 16.07 |
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Expected to Vest |  |  | 43,554 |  | $ | 16.07 |
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Summary of aggregate stock-based compensation recorded in the Consolidated Statements of Comprehensive Loss |
|  |  |  | 2015 |  | 2014 |  | 2013 |
|  |  |  | (in millions) |
Research and development expenses |  |  |  | $ | 4.0 |  | $ | 4.5 |  | $ | 2.4 |
General and administrative expenses |  |  |  |  | 11.6 |  |  | 6.8 |  |  | 6.3 |
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|  | Total(1) |  | $ | 15.6 |  | $ | 11.3 |  | $ | 8.7 |
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(1) | Includes $2.3 million, $2.4 million and $4.1 million for the years ended December 31, 2015, 2014 and 2013, respectively, for the remeasurement of certain stock options and RSUs that occurred during May 2013.

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