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Stockholders' Equity (Tables) | 12 Months Ended
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Dec. 31, 2016
Equity [Abstract] |
Schedule for accounting for share-based compensation | The following table summarizes stock-based compensation expense (in thousands):
| December 31,
| 2016 |  | 2015 |  | 2014
Stock-based compensation expense as a component of: |  |  |  |  |
Research and development expenses | $ | 8,836 |  |  | $ | 4,080 |  |  | $ | 3,595 |
General and administrative expenses | 10,057 |  |  | 8,378 |  |  | 7,675 |
| $ | 18,893 |  |  | $ | 12,458 |  |  | $ | 11,270 |
Stock option plan activity | Following is a summary of the Company’s stock option plan activity and related information:
| Shares |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term in Years |  | Aggregate Intrinsic Value (In thousands)
Balance at December 31, 2015 | 1,683,341 |  |  | $ | 34.19 |  |  | 6.48 |  | $ | 124,800 |
Granted | 263,489 |  |  | 92.09 |  |  |  |  |
Exercised | (164,440 | ) |  | 38.08 |  |  |  |  |
Forfeited | (28,115 | ) |  | 60.17 |  |  |  |  |
Balance at December 31, 2016 | 1,754,275 |  |  | 42.12 |  |  | 6.19 |  | 104,247 |
Exercisable at December 31, 2016 | 1,298,561 |  |  | 30.21 |  |  | 5.44 |  | 92,723 |
Options vested and expected to vest as of December 31, 2016 | 1,752,275 |  |  | $ | 42.12 |  |  | 6.19 |  | $ | 104,247 |
Stock option plan activity, by exercise price range | Following is a further breakdown of the options outstanding as of December 31, 2016:
Range of exercise prices | Options outstanding |  | Weighted average remaining life in years |  | Weighted average exercise price |  | Options exercisable |  | Weighted average exercise price
$8.58 - $12.53 | 247,574 |  |  | 3.94 |  | $ | 9.98 |  |  | 247,574 |  |  | $ | 9.98 |
$10.12 - $12.81 | 76,100 |  |  | 4.92 |  | 11.38 |  |  | 76,100 |  |  | 11.38 |
$14.47 - $14.47 | 288,887 |  |  | 5.11 |  | 14.47 |  |  | 274,887 |  |  | 14.47 |
$16.14 - $21.00 | 106,242 |  |  | 1.85 |  | 17.76 |  |  | 106,242 |  |  | 17.76 |
$21.92 - $21.92 | 225,105 |  |  | 6.13 |  | 21.92 |  |  | 213,199 |  |  | 21.92 |
$32.00 - $53.34 | 72,330 |  |  | 6.02 |  | 36.18 |  |  | 62,747 |  |  | 34.73 |
$56.26 - $59.26 | 183,595 |  |  | 8.11 |  | 56.26 |  |  | 70,877 |  |  | 56.26 |
$63.58 - $68.62 | 26,382 |  |  | 7.50 |  | 67.20 |  |  | 21,976 |  |  | 67.50 |
$74.42 - $74.42 | 227,856 |  |  | 7.12 |  | 74.42 |  |  | 162,233 |  |  | 74.42 |
$85.79 - $138.53 | 298,204 |  |  | 9.03 |  | 93.19 |  |  | 62,726 |  |  | 89.71 |
$8.58 – $138.53 | 1,752,275 |  |  | 6.19 |  | $ | 42.12 |  |  | 1,298,561 |  |  | $ | 30.21 |
Stock option weighted average assumptions | The assumptions used for the specified reporting periods and the resulting estimates of weighted-average grant date fair value per share of options granted:
| Year Ended December 31,
| 2016 |  | 2015 |  | 2014 |
Risk-free interest rate | 1.3%-1.9% |  | 1.7%-2.0% |  | 1.9% |
Expected volatility | 48%-50% |  | 50%-58% |  | 62%-69% |
Expected term | 6.6 to 6.7 years |  | 6.5 years |  | 6.0 years |
Forfeiture rate | 5.00% |  | 8.52% |  | 8.6%-9.7% |
Restricted stock activity | The following is a summary of the Company’s restricted stock activity and related information:
| Shares |  | Weighted-Average Grant Date Fair Value
Outstanding at December 31, 2015 | 130,749 |  |  | $ | 60.36 |
Granted | 234,855 |  |  | 95.31 |
Vested | (54,421 | ) |  | 66.79 |
Forfeited | (2,483 | ) |  | 67.95 |
Outstanding at December 31, 2016 | 308,700 |  |  | $ | 86.61 |

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