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Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2016

Stockholders' Equity

Schedule of fair value weighted-average assumptions

		Years Ended December 31,
		2016			2015			2014
Expected stock price volatility			81.3	%		75.9	%		81.3	%
Risk free interest rate			1.5	%		1.7	%		1.9	%
Expected life of options (years)			6.25			6.25			6.25
Expected annual dividend per share		$	0.00		$	0.00		$	0.00

Summary of stock options outstanding

Number of Shares

Weighted Average Exercise Price

Weighted Average Remaining Contractual Life

Aggregate Intrinsic Value

(in thousands)

(in millions)

Options outstanding, December 31, 2013

9,041.1

$

5.65

Granted

2,993.1

$

2.99

Exercised

(965.6

)

$

3.80

Forfeited

(1,047.9

)

$

5.76

​

​

​

​

​

​

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​

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​

​

​

Options outstanding, December 31, 2014

10,020.7

$

5.02

Granted

3,917.2

$

11.61

Exercised

(2,070.3

)

$

5.43

Forfeited

(138.4

)

$

7.76

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Options outstanding, December 31, 2015

11,729.2

$

7.11

Granted

5,114.1

$

7.67

Exercised

(723.1

)

$

4.20

Forfeited

(622.7

)

$

8.62

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Options outstanding, December 31, 2016

15,497.5

$

7.37

7.3 years

$

7.8

​

​

​

​

​

​

​

​

​

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​

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​

​

​

​

​

​

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​

​

Vested and unvested expected to vest, December 31, 2016

(14,593.7

)

$

7.31

7.2 years

$

7.7

Exercisable at December 31, 2016

7,545.3

$

6.57

5.8 years

$

5.8

Summary of non-vested Restricted Stock Units activity

Number of Share

Weighted Average Grant Date Fair Value

Weighted Average Remaining Years

Aggregate Intrinsic Value

(in thousands)

(in millions)

Non-vested units as of December 31, 2014

955.0

$

2.28

Granted

366.0

$

12.63

Vested

(842.5

)

$

—

Forfeited

—

$

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Non-vested units as of December 31, 2015

478.5

$

10.38

Granted

582.7

$

6.21

Vested

(281.9

)

$

8.73

Forfeited

(34.9

)

$

7.71

​

​

​

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​

Non-vested units as of December 31, 2016

744.4

$

7.86

2.62

$

—

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Summary of the equity-based compensation expense recognized in the statements of operations

        The following table summarizes the equity-based compensation expense recognized in the statements of operations (in thousands):

		Years Ended December 31,
		2016			2015			2014
Equity compensation expense recognized in:
Research and development expense		$	8,071		$	4,600		$	2,703
Selling, general and administrative expense			9,433			5,372			3,305
​	​	​	​	​	​	​	​	​	​	​
Total equity compensation expense		$	17,504		$	9,972		$	6,008
​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​

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