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Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2018

Stock-Based Compensation Expense

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

		For the Years Ended December 31,
		2018				2017				2016
		(Amounts in thousands)
Cost of product revenue		$	1,019			$	704			$	341
Research and development			917				481				537
Selling, general and administrative			8,256				5,562				3,717
Total stock-based compensation		$	10,192			$	6,747			$	4,595

Estimated Weighted Average Assumptions

The fair value of share-based awards granted during the years ended December 31, 2018, 2017 and 2016 were calculated using the following estimated assumptions:

		For the Years Ended December 31,
		2018				2017				2016
Expected term (in years)			5.5 – 7.5				6.1				6.7 – 7.1
Expected volatility (range)			45.14 – 50.87%				51.48%				50.85 – 51.01%
Risk-free interest rate			2.63 – 2.96%				1.88 – 1.99%				1.51 – 2.37%
Expected dividend yield			0%				0%				0%

Summary of Option Activity

Information regarding option activity for the year ended December 31, 2018 under the Plans is summarized below:

		Shares				Weighted average exercise price				Weighted- Average Remaining Contractual Term (in Years)				Aggregate Intrinsic Value (in Thousands)
Options outstanding at December 31, 2017			734,940			$	20.80
Granted			449,678			$	35.48
Exercised			(176,804	)		$	19.31
Forfeited/expired/cancelled			(9,588	)		$	29.71
Options outstanding at December 31, 2018			998,226			$	27.54				7.19			$	25,273
Options exercisable at December 31, 2018			410,760			$	18.53				4.96			$	14,051
Vested and expected to vest at December 31, 2018(1)			953,454								7.10			$	24,490

(1) Represents the number of vested options as of December 31, 2018 plus the number of unvested options expected to vest as of December 31, 2018 based on the unvested outstanding options at December 31, 2018 adjusted for estimated forfeiture rates of 8% for awards granted to non-executive level employees and 3% for awards granted to executive level employees.

Summary of Restricted Stock Unit Activity

Information regarding RSU activity for the year ended December 31, 2018 under the Plans is summarized below:

		Shares				Weighted- Average Remaining Contractual Term (in Years)				Aggregate Intrinsic Value (in Thousands)
Unvested at December 31, 2017			505,235
Awarded			407,961
Vested			(153,383	)
Forfeited/expired/cancelled			(54,400	)
Unvested at December 31, 2018			705,413				3.98			$	37,203
Vested and expected to vest at December 31, 2018(1)			652,543				3.26			$	34,415

(1) Represents the number of vested RSUs units as of December 31, 2018 plus the number of unvested RSUs expected to vest as of December 31, 2018 based on the unvested outstanding RSUs at December 31, 2018 adjusted for estimated forfeiture rates of 8% for awards granted to non-executive level employees and 3% for awards granted to executive level employees.

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