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Share-based compensation (Tables)

3 Months Ended

Mar. 31, 2019

Share-based compensation

Schedule of share-based compensation expense by classification included in consolidated statements of operations and comprehensive loss

		Three months ended March 31,
		2019			2018
		(in thousands)
Research and development		$	1,980		$	806
Selling, general and administrative			2,298			1,721
Total		$	4,279		$	2,527

Schedule of share-based compensation expense

		Three months ended March 31,
		2019			2018
		(in thousands)
Award type
Share options		$	2,076		$	1,059
Restricted share units (“RSUs”)			930			746
Performance share units (“PSUs”)			1,272			722
Total		$	4,279		$	2,527

Schedule of unrecognized compensation cost related to unvested awards

					Weighted-average
		Unrecognized			remaining
		compensation			period for
		costs			recognition
Award type		(in thousands)			(in years)
Share options		$	22,627		3.25
Restricted share units			7,968		2.31
Performance share units			9,661		2.22
Total		$	40,256		2.82

Schedule of weighted-average assumptions for fair value of option issued

		Three months ended March 31,
Assumptions		2019		2018
Expected volatility		75%		75%
Expected terms (in years)		10 years		10 years
Risk free interest rate		2.80% - 2.87%		2.77% - 2.99%
Expected dividends		0%		0%

Summary of RSUs activity

			RSU
					Weighted average
					grant-date fair
		Number of shares			value
Non-vested at December 31, 2018			412,321		$	16.49
Granted			145,004		$	33.62
Vested			(165,017)		$	12.41
Forfeited			(13,833)		$	12.25
Non-vested at March 31, 2019			378,475		$	24.99
Total weighted average grant date fair value of RSUs granted during the period (in $ millions)					$	4.9

Summary of PSUs activity

			PSU
					Weighted average
					grant-date fair
		Number of shares			value
Non-vested at December 31, 2018			377,169		$	16.73
Granted			132,362		$	31.71
Vested			(23,064)		$	5.76
Non-vested at March 31, 2019			486,467		$	17.80
PSUs awarded but not yet earned			96,389		$	59.65
Total non-vested and discretionary PSUs			582,856		$	24.72
Total weighted average grant date fair value of PSUs awarded during the period (in $ millions)					$	9.9

2014 Plan

Share-based compensation

Summary of option activity

		Options
		Number of		Weighted average
		shares		exercise price
Outstanding at December 31, 2018		2,673,712		$	15.09
Granted		502,526		$	34.35
Forfeited		(41,479)		$	11.77
Expired		(75)		$	7.49
Exercised		(165,240)		$	12.35
Outstanding at March 31, 2019		2,969,444		$	18.54
Fully vested and exercisable at March 31, 2019		1,176,022		$	11.73
Outstanding and expected to vest at March 31, 2019		1,793,422		$	23.01
Total weighted average grant date fair value of options issued during the period (in $ millions)				$	10.1
Proceeds from option sales during the period (in $ millions)				$	2.0

X

- Definition

Tabular disclosure of the amount of total share-based compensation cost, including the amounts attributable to each share-based compensation plan and any related tax benefits.

+ References

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- Definition

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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- Definition

Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

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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.

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Tabular disclosure of the total compensation cost related to nonvested awards not yet recognized and the weighted-average period over which it is expected to be recognized.

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