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Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2016
Stock-Based Compensation Expense

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

 

     Three Months Ended
March 31,
 
     2016      2015  

Cost of product revenue

   $ 60       $ 43   

Research and development

     80         69   

Selling, general and administrative

     782         590   
  

 

 

    

 

 

 

Total

   $ 922       $ 702   
  

 

 

    

 

 

 
Summary of Option Activity

Information regarding option activity for the three months ended March 31, 2016 under the Plans is summarized below:

 

     Options
Outstanding
     Weighted-
Average
Exercise
Price Per
Share
     Weighted-
Average
Remaining
Contractual
Term
(in years)
     Aggregate
Intrinsic
Value

(in thousands)
 

Options outstanding at January 1, 2016

     1,240,935       $ 10.44         

Granted

     244,220         13.44         

Exercised

     (113,747      6.86         

Forfeited/Cancelled

     (58,900      6.15         
  

 

 

          

Options outstanding at March 31, 2016

     1,312,508       $ 11.50         7.34       $ 20,679   
  

 

 

          

Options exercisable at March 31, 2016

     517,769       $ 7.91         5.11       $ 9,792   
  

 

 

          

Vested and expected to vest at March 31, 2016 (1)

     1,221,408       $ 11.61         7.26       $ 19,133   
  

 

 

    

 

 

    

 

 

    

 

 

 

 

(1)  This represents the number of vested options as of March 31, 2016 plus the number of unvested options expected to vest as of March 31, 2016 based on the unvested outstanding options at March 31, 2016 adjusted for estimated forfeiture rates of 8% for awards granted to non-executive level employees and 3% for awards granted to executive level employees.