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Stock award plan (Tables)
 6 Months Ended
Jun. 30, 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
 
1,738,873

 
$
11.80

 
 
 
 

Exercised
 
(49,770
)
 
$
10.74

 
 
 
 

Forfeited/Cancelled
 
(419,367
)
 
$
33.83

 
 
 
 

Outstanding at June 30, 2017
 
7,124,052

 
$
29.33

 
7.51 years
 
$
19,807

Vested or Expected to vest at June 30, 2017
 
3,159,956

 
$
25.63

 
8.66 years
 
$
10,427

Exercisable at June 30, 2017
 
3,738,673

 
$
32.94

 
6.44 years
 
$
8,449
Schedule of assumptions used to estimate fair values of grants made on the date of grant
The fair value of grants made in the six months ended June 30, 2017 was contemporaneously estimated on the date of grant using the following assumptions:
 
 
Six months ended
June 30, 2017
 
Risk-free interest rate
 
1.84% — 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
 
358,194

 
$
11.34

Vested
 
(180,861
)
 
$
14.19

Forfeited
 
(24,998
)
 
$
13.47

Unvested at June 30, 2017
 
423,986

 
$
15.39
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 June 30,
 
Six Months Ended June 30,
 
 
2017
 
2016
 
2017
 
2016
Research and development
 
$
3,895

 
$
4,087

 
$
8,362

 
$
8,415

Selling, general and administrative
 
3,990

 
4,649

 
8,552

 
9,236

Total
 
$
7,885

 
$
8,736

 
$
16,914

 
$
17,651