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Stock-Based Compensation (Tables)

12 Months Ended

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

Options outstanding at December 31, 2013			3,632,996			7.94


Vested and expected to vest at December 31, 2013			3,402,306			7.88


Exercisable at December 31, 2013			484,213			4.25


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

Options outstanding at December 31, 2014			4,400,106			10.59


Vested and expected to vest at December 31, 2014			3,891,511			10.32


Exercisable at December 31, 2014			1,235,710			6.90


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


Vested and expected to vest at December 31, 2015			5,059,645			13.46			7.96		$	29,240


Exercisable at December 31, 2015			1,991,141			8.70			7.11		$	19,128

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			-			-

Outstanding at December 31, 2014			20,502		$	19.47
Granted			49,776			16.07
Released			(26,724	)		18.68
Forfeited			-			-

Outstanding at December 31, 2015			43,554		$	16.07


Expected to Vest			43,554		$	16.07

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

		Total(1)		$	15.6		$	11.3		$	8.7


(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.