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Stockholders' Equity (Tables)

9 Months Ended

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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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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Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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

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