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Stockholders' Equity (Tables)
12 Months Ended
Dec. 31, 2017
Stockholders' Equity  
Summary of deferred compensation amounts

        The following table summarizes the deferred compensation amounts under the Deferral Plan as of December 31, 2017 and 2016, respectively (in thousands):

                                                                                                                                                                                    

 

 

Year ended
December 31,

 

 

 

2017

 

2016

 

Deferred compensation investment

 

$

2,248

 

$

1,469

 

Deferred compensation liability

 

$

2,258

 

$

1,479

 

Investment income

 

$

66

 

$

34

 

Unrealized gain

 

$

92

 

$

32

 

 

Schedule of fair value weighted-average assumptions

                                                                                                                                                                                    

 

 

Years Ended
December 31,

 

 

 

2017

 

2016

 

2015

 

Expected stock price volatility

 

 

82.8

%

 

81.3

%

 

75.9

%

Risk free interest rate

 

 

2.0

%

 

1.5

%

 

1.7

%

Expected life of options (years)

 

 

6.18

 

 

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, 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

 

 

 

 

 

 

Granted

 

 

3,695.3

 

$

7.17

 

 

 

 

 

 

Exercised

 

 

(2,878.7

)

$

5.67

 

 

 

 

 

 

Forfeited

 

 

(1,133.0

)

$

9.55

 

 

 

 

 

 

​  

​  

Options outstanding, December 31, 2017

 

 

15,181.1

 

$

7.48

 

7.2 years

 

$

105.8

 

​  

​  

​  

​  

Vested and unvested expected to vest, December 31, 2017

 

 

14,398.5

 

$

7.45

 

7.1 years

 

$

100.9

 

Exercisable at December 31, 2017

 

 

7,985.6

 

$

7.05

 

6.0 years

 

$

59.1

 

 

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, 2015

 

 

478.5

 

$

10.38

 

 

 

 

 

 

 

Granted

 

 

582.7

 

$

6.21

 

 

 

 

 

 

 

Vested

 

 

(281.9

)

$

8.73

 

 

 

 

 

 

 

Forfeited

 

 

(34.9

)

$

7.71

 

 

 

 

 

 

 

​  

​  

​  

​  

Non-vested units as of December 31, 2016

 

 

744.4

 

$

7.86

 

 

 

 

 

 

 

Granted

 

 

2,348.7

 

$

5.69

 

 

 

 

 

 

 

Vested

 

 

(318.2

)

$

9.23

 

 

 

 

 

 

 

Forfeited

 

 

(199.8

)

$

6.24

 

 

 

 

 

 

 

​  

​  

Non-vested units as of December 31, 2017

 

 

2,575.1

 

$

5.85

 

 

2.47

 

$

37.1

 

​  

​  

​  

​  

 

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,

 

 

 

2017

 

2016

 

2015

 

Equity compensation expense recognized in:

 

 

 

 

 

 

 

 

 

 

Research and development expense

 

$

10,328

 

$

8,071

 

$

4,600

 

Selling, general and administrative expense

 

 

12,773

 

 

9,433

 

 

5,372

 

​  

​  

​  

​  

​  

​  

Total equity compensation expense

 

$

23,101

 

$

17,504

 

$

9,972

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​