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Stock award plan (Tables)

3 Months Ended

Mar. 31, 2016

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, 2015		4,826,477		$	37.20		8.38 yrs		32,391
Granted		1,357,045		$	29.78
Exercised		(3,125	)	$	10.85
Forfeited/Cancelled		(145,479	)	$	49.51
Outstanding at March 31, 2016		6,034,918		$	35.38		8.47		$	1
Vested or Expected to vest at March 31, 2016		3,716,134		$	36.19		8.85		$	1
Exercisable at March 31, 2016		2,026,638		$	33.63		7.69		$	—

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

		Three months ended March 31, 2016
Risk-free interest rate		1.32%—2.24%
Expected volatility		67%—70%
Expected term		5.05 years—10.00 years

Summary of information on the Company's restricted stock

		Restricted Stock Awards and Units
		Number of Shares		Weighted Average Grant Date Fair Value
January 1, 2016		344,335		$	10.85
Granted		141,185		30.86
Vested		—		$	—
Forfeited		(32,079	)	$	16.26
Unvested at March 31, 2016		453,441		$	16.70

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

		Three Months Ended March 31,
		2016			2015
Research and development		$	4,328		$	4,667
General and administrative		4,587			5,081
Total		$	8,915		$	9,748

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Tabular disclosure of the changes in outstanding nonvested restricted stock shares.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
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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.

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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.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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