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Stock award plan (Tables)
6 Months Ended
Jun. 30, 2015
Stock award plan  
Summary of stock option activity

 

 

Number of
options

 

Weighted-
average
exercise
price

 

Weighted-
average
remaining
contractual
term

 

Aggregate
intrinsic
value

 

 

 

 

 

 

 

 

 

(in
thousands)

 

Outstanding at December 31, 2014

 

3,432,972

 

$

25.00

 

 

 

 

 

Granted

 

1,916,100

 

$

53.47

 

 

 

 

 

Exercised

 

(612,645

)

$

13.18

 

 

 

 

 

Forfeited

 

(70,681

)

$

42.80

 

 

 

 

 

Expired

 

(1,894

)

$

285.48

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at June 30, 2015

 

4,663,852

 

$

37.84

 

8.8 years

 

$

72,654

 

 

 

 

 

 

 

 

 

 

 

 

 

Vested or Expected to vest at June 30, 2015

 

4,339,328

 

$

37.16

 

8.8 years

 

$

68,629

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable at June 30, 2015

 

944,708

 

$

33.55

 

8.1 years

 

$

28,081

 

 

Schedule of assumptions used to estimate fair value of grants made on the date of grant

 

 

Six months
ended June
30, 2015

 

Risk-free interest rate

 

1.49% — 2.01%

 

Expected volatility

 

67%-69%

 

Expected term

 

5.50 – 6.11 years

 

 

Summary of information on the Company's restricted stock

 

 

Restricted Stock

 

 

 

Number of
Shares

 

Weighted
Average
Grant
Date Fair
Value

 

January 1, 2015

 

718,400

 

$

10.72

 

Granted

 

 

$

 

Vested

 

(361,919

)

$

10.60

 

Forfeited

 

(3,346

)

$

10.82

 

 

 

 

 

 

 

 

Unvested at June 30, 2015

 

353,135

 

$

10.85

 

 

 

 

 

 

 

 

 

Schedule of share-based compensation expense recorded in the statement of operations

 

 

Three Months Ended June 30,

 

Six Months Ended June 30,

 

 

 

2015

 

2014

 

2015

 

2014

 

 

 

 

 

 

 

 

 

 

 

Research and development

 

$

3,957 

 

$

2,209 

 

$

8,624 

 

$

4,153 

 

Selling, general and administrative

 

4,371 

 

2,069 

 

9,452 

 

3,830 

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

8,328 

 

$

4,278 

 

$

18,076 

 

$

7,983