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Stock award plan (Tables)

3 Months Ended

Mar. 31, 2017

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, 2016		5,854,316			$	34.71
Granted		1,244,723			$	11.32
Exercised		(9,766	)		$	10.85
Forfeited/Cancelled		(81,983	)		$	35.64
Outstanding at March 31, 2017		7,007,290			$	30.56			7.87 years		$	179
Vested or Expected to vest at March 31, 2017		3,296,281			$	28.16			8.68 years		$	144
Exercisable at March 31, 2017		3,478,720			$	33.28			7.03 years		$	25

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

The fair value of grants made in the three months ended March 31, 2017 was contemporaneously estimated on the date of grant using the following assumptions:

		Three months ended March 31, 2017
Risk-free interest rate		1.94% — 2.45%
Expected volatility		76%—81%
Expected term		5.04– 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, 2017		271,651			$	19.76
Granted		328,194			$	11.23
Vested		(30,161	)		$	30.86
Forfeited		(3,090	)		$	13.98
Unvested at March 31, 2017		566,594			$	14.26

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 March 31,
		2017				2016
Research and development		$	4,467			$	4,328
Selling, general and administrative		4,562				4,587
Total		$	9,029			$	8,915

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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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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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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

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-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

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

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
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-Section 50
-Paragraph 2
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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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-Publisher FASB
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