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Stockholders' Equity (Tables)
3 Months Ended
Mar. 31, 2017
Stockholders' Equity  
Schedule of fair value weighted-average assumptions

 

 

 

Three Months
Ended March 31,

 

 

 

2017

 

2016

 

Expected stock price volatility

 

83.2

%

81.2

%

Risk free interest rate

 

2.1

%

1.8

%

Expected life of options (years)

 

6.25

 

6.25

 

Expected annual dividend per share

 

$

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, 2016

 

15,497.5

 

$

7.37

 

 

 

 

 

Granted

 

2,605.3

 

$

5.19

 

 

 

 

 

Exercised

 

(88.4

)

$

3.00

 

 

 

 

 

Forfeited

 

(192.6

)

$

9.24

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options outstanding, March 31, 2017

 

17,821.8

 

$

7.05

 

7.5 years

 

$

26.1

 

 

 

 

 

 

 

 

 

 

 

 

 

Vested and unvested expected to vest, March 31, 2017

 

16,637.6

 

$

7.05

 

7.3  years

 

$

24.8 

 

Exercisable at March 31, 2017

 

8,564.0

 

$

6.80

 

5.9  years

 

$

15.7 

 

 

Summary of non-vested Restricted Stock Units activity

 

 

 

Number of Share
(in thousands)

 

Weighted
Average Grant Date
Fair Value

 

Weighted
Average
Remaining Years

 

Aggregate
Intrinsic Value (in
millions)

 

Non-vested units as of December 31, 2016

 

744.4

 

$

7.86

 

 

 

 

 

Granted

 

2,308.1

 

$

5.64

 

 

 

 

 

Vested

 

(4.7

)

$

14.08

 

 

 

 

 

Forfeited

 

(25.9

)

$

5.81

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-vested units as of March 31, 2017

 

3,021.9

 

$

6.17

 

3

 

$

21.5

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

The following table summarizes information related to compensation expense recognized in the statements of operations related to the equity awards (in thousands):

 

 

 

Three Months Ended March
31,

 

 

 

2017

 

2016

 

Equity compensation expense recognized in:

 

 

 

 

 

Research and development expense

 

$

2,753

 

$

1,936

 

Selling, general and administrative expense

 

3,277

 

2,347

 

 

 

 

 

 

 

Total equity compensation expense

 

$

6,030

 

$

4,283