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Stock award plan (Tables)

9 Months Ended

Sep. 30, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of stock option activity

A summary of stock option activity is as follows:

		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		1,440,445			$	28.55
Exercised		(85,325	)		$	10.85
Forfeited/Cancelled		(349,431	)		$	46.77
Outstanding at September 30, 2016		5,832,166			$	35.03			8.01 years		$	4,132
Vested or Expected to vest at September 30, 2016		3,032,483			$	35.79			8.50 years		$	1,200
Exercisable at September 30, 2016		2,613,982			$	34.08			7.38 years		$	2,867

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

The fair value of grants made in the nine months ended September 30, 2016 was contemporaneously estimated on the date of grant using the following assumptions:

		Nine months ended September 30, 2016
Risk-free interest rate		1.30% — 2.24%
Expected volatility		67%—78%
Expected term		5.05– 10.00 years

Summary of information on the Company's restricted stock

The following table summarizes information on the Company’s restricted stock awards and units:

		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		(49,306	)		$	18.69
Unvested at September 30, 2016		272,579			$	19.80

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

The Company recorded share-based compensation expense in the statement of operations related to incentive stock options, nonstatutory stock options, restricted stock awards, restricted stock units and the ESPP as follows:

		Three Months Ended September 30,								Nine Months Ended September 30,
		2016				2015				2016				2015
Research and development		$	4,319			$	3,828			$	12,734			$	12,452
Selling, general and administrative		4,640				4,226				13,876				13,678
Total		$	8,959			$	8,054			$	26,610			$	26,130

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

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

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+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 14.F)
-URI http://asc.fasb.org/extlink&oid=27013229&loc=d3e301413-122809

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 14
-Section F

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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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