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Stock award plans (Tables)

12 Months Ended

Dec. 31, 2014

Stock Based Award Plans

The following table summarizes information about the Company’s stock-based award plans as of December 31, 2014:

		Outstanding Options				Outstanding Restricted Stock Units				Shares Available for Future Issuance
2004 Equity Incentive Plan			13,629,994				1,219,915				—
2013 Equity Incentive Plan			7,380,839				1,390,805				15,506,488
2004 Non-Employee Directors’ Stock Option Plan			530,831				—				—
Total			21,541,664				2,610,720				15,506,488

Stock Based Compensation Expense Recognized in Accompanying Statements of Operations

Total stock-based compensation expense recognized in the accompanying statements of operations is as follows (in thousands):

		Year Ended December 31,
		2014				2013				2012
Employee-related		$	48,622			$	45,181			$	13,224
Consultant-related			—				5				68
Total		$	48,622			$	45,186			$	13,292

Stock Based Compensation Expense Recognized in Accompanying Statements of Operations by Category

Total stock-based compensation expense recognized in the accompanying statements of operations is included in the following categories (in thousands):

		Year Ended December 31,
		2014				2013				2012
Research and development		$	22,357			$	20,409			$	6,167
General and administrative			26,265				24,777				7,125
Total		$	48,622			$	45,186			$	13,292

Assumptions Used to Calculate Fair Value of Employee Stock Options

The Company calculated the fair value of employee stock options granted during the years ended December 31, 2014, 2013 and 2012 using the following assumptions:

		Year Ended December 31,
		2014				2013				2012
Risk-free interest rate			1.64% — 2.11%				0.94% — 1.82%				0.32% —1.16%
Expected lives			5.77 — 6.09 years				2.64 — 5.77 years				1.4 — 6.1 years
Volatility			73.98% — 84.85%				75.83% — 86.26%				70% — 84%
Dividends			—				—				—

Summary of Stock Options Outstanding

The following table summarizes information about stock options outstanding:

		Number of Shares				Weighted Average Exercise Price per Share				Aggregate Intrinsic Value ($000)
Outstanding at January 1, 2014			24,237,940				4.35			$	40,972
Granted			1,326,800				7.21
Exercised			(3,250,149	)			3.37
Forfeit			(417,223	)			4.54
Expired			(355,704	)			12.48
Outstanding at December 31, 2014			21,541,664				4.53			$	33,495
Vested and expected to vest at December 31, 2014			21,307,827				4.52			$	33,253
Exercisable at December 31, 2014			18,439,472				4.42			$	30,356

Summary of Restricted Stock Unit Activity

A summary of restricted stock unit activity for the year ended December 31, 2014 is presented below:

		Number of Shares				Weighted Average Grant Date Fair Value per Share
Outstanding at January 1, 2014			9,115,821			$	3.90
Granted			954,127			$	7.14
Vested			(6,982,707	)		$	3.83
Forfeited			(476,521	)		$	4.30
Outstanding at December 31, 2014			2,610,720			$	5.20

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Schedule of Share Based Compensation Activity by Category

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Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

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-Publisher FASB

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Tabular disclosure of share-based compensation plans that may be presented in a single table for outstanding, vested and expected to vest, and exercisable awards. The information that may be disclosed in this table may include, but is not limited to, number of shares, weighted average exercise price, weighted average remaining contractual life, and aggregate intrinsic value.

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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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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 employee stock purchase plans, including, but not limited to: (a) expected term, (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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