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Share-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2019
Share-based Payment Arrangement [Abstract]  
Schedule of Fair Value of Options
The fair value of the stock options granted is estimated on the date of grant using a Black-Scholes option pricing model with the following weighted-average assumptions:

 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2019
 
2018
 
2019
 
2018
Expected stock price volatility
74.2
%
 
81.1
%
 
74.2
%
 
81.2
%
Risk free interest rate
2.0
%
 
2.8
%
 
2.4
%
 
2.4
%
Expected life of options (years)
(1) 
5.68

 
5.62

 
5.68

 
5.62

Expected annual dividend per share
$
—

 
$
—

 
$
—

 
$
—

 
______________________________________
(1) The average expected life is determined using actual historical data.
Schedule of Stock Options Activity
A summary of the Company's stock options for the six months ended June 30, 2019 were as follows:

 
Number of
Shares
 
Weighted
Average
Exercise Price
 
Weighted
Average
Remaining
Contractual Life
 
Aggregate
Intrinsic
Value
 
(in thousands)
 
 
 
 
 
(in millions)
Options outstanding, December 31, 2018
15,810

 
$
8.63

 
 
 
 

Granted
3,683

 
$
10.36

 
 
 
 

Exercised
(1,139
)
 
$
5.93

 
 
 
 

Forfeited
(445
)
 
$
11.02

 
 
 
 

Expired
(60
)
 
$
13.61

 
 
 
 
Options outstanding, June 30, 2019
17,849

 
$
9.09

 
6.8 years
 
$
68.7

Vested and unvested expected to vest, June 30, 2019
16,975

 
$
8.99

 
6.7 years
 
$
66.8

Exercisable at June 30, 2019
10,624

 
$
8.14

 
5.5 years
 
$
50.1
Schedule of Non-Vested RSU Activity under the Plan A summary of non-vested RSU activity under the Plan for the six months ended June 30, 2019 is as follows:

 
Number of Shares

 
Weighted
Average Grant Date
Fair Value
 
Weighted Average
Remaining Years
 
Aggregate Intrinsic
Value 
 
(in thousands)
 
 
 
 
 
(in millions)
Non-vested units as of December 31, 2018
3,712

 
$
10.59

 
 
 
 

Granted
3,262

 
$
11.02

 
 
 
 

Vested
(788
)
 
$
9.28

 
 
 
 

Forfeited
(301
)
 
$
10.32

 
 
 
 

Non-vested units as of June 30, 2019
5,885

 
$
11.09

 
2.7 years
 
$
73.5
Schedule of Equity Compensation Expenses
The following table summarizes information related to compensation expense recognized in the Consolidated Statements of Operations related to the equity awards:

 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
(in thousands)
 
2019
 
2018
 
2019
 
2018
Equity compensation expense recognized in:
 
 
 
 
 
 
 
 
Research and development expense
 
$
3,952

 
$
2,641

 
$
8,984

 
$
5,698

Selling, general, and administrative expense
 
5,983

 
3,700

 
13,695

 
8,121

Total equity compensation expense
 
$
9,935

 
$
6,341

 
$
22,679

 
$
13,819