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Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2014

Stock-Based Compensation Expense

The following table presents stock-based compensation expense included in the Company’s consolidated statements of comprehensive income:

		Three months ended September 30,								Nine months ended September 30,
		2014				2013				2014				2013
Cost of product revenue		$	46,015			$	24,059			$	135,861			$	47,151
Research and development			61,998				30,092				173,993				73,814
Selling, general and administrative			425,079				151,621				1,075,874				647,569
Total		$	533,092			$	205,772			$	1,385,728			$	768,534

Summary of Option Activity

Information regarding option activity for the nine months ended September 30, 2014 under the Plans is summarized below:

		Options Outstanding				Weighted- Average Exercise Price Per Share				Weighted- Average Remaining Contractual Term (in years)				Aggregate Intrinsic Value
Options outstanding at January 1, 2014			1,610,988			$	5.07
Granted			376,698				13.10
Exercised			(622,538	)			4.41
Forfeited/Cancelled			(105,831	)			7.49
Options outstanding at September 30, 2014			1,259,317			$	7.61				7.26			$	15,596,097
Options exercisable at September 30, 2014			480,300			$	4.17				4.80			$	7,559,847
Vested and expected to vest at September 30, 2014 (1)			1,169,331			$	7.43				7.16			$	14,681,625

(1) This represents the number of vested options as of September 30, 2014 plus the number of unvested options expected to vest as of September 30, 2014 based on the unvested outstanding options at September 30, 2014 adjusted for estimated forfeiture rates of 8% for awards granted to non-executive level employees and 3% for awards granted to executive level employees.

X

- Definition

Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.

+ References

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-Publisher FASB

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-SubTopic 10

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-Publisher SEC

-Name Staff Accounting Bulletin (SAB)

-Number Topic 14

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Reference 4: http://www.xbrl.org/2003/role/presentationRef

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-Name Accounting Standards Codification

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X

- Definition

Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 718

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (c)(1)

-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

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