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Stock-Based Compensation (Tables) | 6 Months Ended
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Jun. 30, 2017
Stock-Based Compensation |
Summary of stock option activity |
|  | Shares |  | Weighted Average Exercise Price Per Share |  | Weighted Average Remaining Contractual Term (In Years) |
Options Outstanding at December 31, 2016 |  | 10,218,710 |  | $ | 11.14 |  | 6.5 |
Granted |  | 2,283,100 |  | $ | 2.34 |  |  |
Exercised |  | — |  | $ | — |  |  |
Canceled |  | (413,100 | ) | $ | 10.66 |  |  |
Options Outstanding at June 30, 2017 |  | 12,088,710 |  | $ | 9.49 |  | 6.5 |
Options Vested and Expected to Vest at June 30, 2017 |  | 11,931,869 |  | $ | 9.54 |  | 6.5 |
Options Exercisable at June 30, 2017 |  | 7,085,429 |  | $ | 10.93 |  | 4.7 |
Shares Available for Grant under the 2008 Plan |  | 7,292,650 |  |  |  |  |
Schedule of stock-based compensation expense |
|  | Three months ended June 30, |  | Six months ended June 30, |
|  | 2017 |  | 2016 |  | 2017 |  | 2016 |
|  | (In thousands) |
Research and development |  | $ | 1,871 |  | $ | 2,008 |  | $ | 3,764 |  | $ | 3,824 |
General and administrative |  | 1,579 |  | 1,965 |  | 3,225 |  | 4,089 |
Total stock-based compensation expense |  | $ | 3,450 |  | $ | 3,973 |  | $ | 6,989 |  | $ | 7,913 |
Schedule of assumptions used for the fair value of employee and director stock options granted |
|  | Three months ended June 30, |  | Six months ended June 30, |
|  | 2017 |  | 2016 |  | 2017 |  | 2016 |
Expected stock price volatility |  | 76% |  | 77% |  | 76 – 77% |  | 70 – 77% |
Expected option term |  | 6.0 years |  | 6.0 years |  | 6.0 years |  | 6.0 years |
Risk-free interest rate |  | 2.0 – 2.1% |  | 1.5% |  | 2.0 – 2.3% |  | 1.5 – 1.6% |
Expected dividend yield |  | None |  | None |  | None |  | None |

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- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14.F) -URI http://asc.fasb.org/extlink&oid=27013229&loc=d3e301413-122809 + Details
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- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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