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Stockholders' Equity (Tables) | 9 Months Ended
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Sep. 30, 2017
Stockholders' Equity |
Schedule of fair value weighted-average assumptions |
|  | Three Months Ended September 30, |  | Nine Months Ended September 30, |
|  | 2017 |  | 2016 |  | 2017 |  | 2016 |
Expected stock price volatility |  | 82.5 | % | 81.6 | % | 83.1 | % | 81.3 | %
Risk free interest rate |  | 1.8 | % | 1.2 | % | 2.0 | % | 1.5 | %
Expected life of options (years) |  | 5.89 |  | 6.25 |  | 6.21 |  | 6.25 |
Expected annual dividend per share |  | $ | 0.00 |  | $ | 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, 2016 |  | 15,497.5 |  | $ | 7.37 |  |  |  |  |
Granted |  | 3,279.5 |  | $ | 6.37 |  |  |  |  |
Exercised |  | (1,451.2 | ) | $ | 6.10 |  |  |  |  |
Forfeited |  | (1,113.8 | ) | $ | 9.59 |  |  |  |  |
Options outstanding, September 30, 2017 |  | 16,212.0 |  | $ | 7.13 |  | 7.2 years |  | $ | 129.5 |
Vested and unvested expected to vest, September 30, 2017 |  | 15,338.3 |  | $ | 7.1 |  | 7.1 years |  | $ | 122.9 |
Exercisable at September 30, 2017 |  | 8,679.2 |  | $ | 6.7 |  | 6.0 years |  | $ | 73.0 |
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 |  | 2,348.7 |  | $ | 5.69 |  |  |  |  |
Vested |  | (210.9 | ) | $ | 8.57 |  |  |  |  |
Forfeited |  | (191.9 | ) | $ | 6.27 |  |  |  |  |
Non-vested units as of September 30, 2017 |  | 2,690.3 |  | $ | 6.03 |  | 2.68 years |  | $ | 40.6 |
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 September 30, |  | Nine Months Ended September 30, |
|  | 2017 |  | 2016 |  | 2017 |  | 2016 |
Equity compensation expense recognized in: |  |  |  |  |  |  |  |  |
Research and development expense |  | $ | 2,390 |  | $ | 2,109 |  | $ | 7,456 |  | $ | 6,011 |
Selling, general and administrative expense |  | 3,110 |  | 2,229 |  | 9,611 |  | 7,076 |
Total equity compensation expense |  | $ | 5,500 |  | $ | 4,338 |  | $ | 17,067 |  | $ | 13,087 |

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