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Stock award plan - (Tables) | 9 Months Ended
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Sep. 30, 2019
Share-based Payment Arrangement [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, 2018 |  | 8,534,358 |  |  | $ | 28.58 |  |  |  |  |  |
Granted |  | 3,265,220 |  |  | $ | 34.68 |  |  |  |  |  |
Exercised |  | (645,435 | ) |  | $ | 18.91 |  |  |  |  |  |
Forfeited/Cancelled |  | (410,962 | ) |  | $ | 32.54 |  |  |  |  |  |
Outstanding at September 30, 2019 |  | 10,743,181 |  |  | $ | 30.85 |  |  | 7.39 years |  | $ | 75,022 |
Vested or Expected to vest at September 30, 2019 |  | 5,138,949 |  |  | $ | 30.27 |  |  | 8.89 years |  | $ | 27,358 |
Exercisable at September 30, 2019 |  | 5,220,799 |  |  | $ | 31.32 |  |  | 5.80 years |  | $ | 46,228 |
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, 2019 was contemporaneously estimated on the date of grant using the following assumptions:
|  | Nine months ended September 30, 2019
Risk-free interest rate |  | 1.71 - 2.63%
Expected volatility |  | 61.90 - 91.75%
Expected term |  | 5.75 - 6.11 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, 2019 |  | 571,479 |  |  | $ | 17.61 |
Granted |  | 306,549 |  |  | $ | 32.97 |
Vested |  | (180,827 | ) |  | $ | 17.56 |
Forfeited |  | (47,098 | ) |  | $ | 22.34 |
Unvested at September 30, 2019 |  | 650,103 |  |  | $ | 24.54 |
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,
|  | 2019 |  | 2018 |  | 2019 |  | 2018
Research and development |  | $ | 4,988 |  |  | $ | 4,431 |  |  | $ | 15,191 |  |  | $ | 12,109 |
Selling, general and administrative |  | 5,496 |  |  | 4,511 |  |  | 15,477 |  |  | 12,664 |
Total |  | $ | 10,484 |  |  | $ | 8,942 |  |  | $ | 30,668 |  |  | $ | 24,773 |

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- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock shares. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
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