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Stock award plan (Tables)
6 Months Ended
Jun. 30, 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

 

 

 

 

 

Granted

 

1,403,045

 

$

29.06

 

 

 

 

 

Exercised

 

(3,125

)

$

10.85

 

 

 

 

 

Forfeited/Cancelled

 

(257,015

)

$

47.36

 

 

 

 

 

Outstanding at June 30, 2016

 

5,969,382

 

$

35.02

 

8.21 years

 

$

6

 

Vested or Expected to vest at June 30, 2016

 

3,361,980

 

$

35.89

 

8.66 years

 

$

5

 

Exercisable at June 30, 2016

 

2,357,502

 

$

33.60

 

7.50 years

 

$

 

 

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

 

 

 

Six months
ended June
30, 2016

 

Risk-free interest rate

 

1.31% —2.24%

 

Expected volatility

 

67%—71%

 

Expected term

 

5.05– 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

 

(163,635

)

$

10.85

 

Forfeited

 

(47,395

)

$

18.19

 

 

 

 

 

 

 

 

Unvested at June 30, 2016

 

274,490

 

$

19.86

 

 

 

 

 

 

 

 

 

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

 

 

 

Three Months Ended June 30,

 

Six Months Ended June 30,

 

 

 

2016

 

2015

 

2016

 

2015

 

 

 

 

 

 

 

 

 

 

 

Research and development

 

$

4,087 

 

$

3,957 

 

$

8,415 

 

$

8,624 

 

Selling, general and administrative

 

4,649 

 

4,371 

 

9,236 

 

9,452 

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

8,736 

 

$

8,328 

 

$

17,651 

 

$

18,076