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Equity Plans and Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2016

Share Based Compensation [Abstract]

Option Activity under Stock-Based Compensation Plans

Option activity under our stock-based compensation plans during the three months ended March 31, 2016 was as follows (in thousands except per share amounts):

		Shares Underlying  Outstanding Options (in thousands)				Weighted-Average Exercise Price Per Share				Weighted-Average Remaining Contractual Term (years)				Aggregate Intrinsic Value (in thousands)
Balance at December 31, 2015			2,891			$	23.34
Options granted			229				21.48
Options exercised			(12	)			13.69
Options cancelled:
Options forfeited (unvested)			(9	)			17.87
Options cancelled (vested)			(36	)			49.30
Balance at March 31, 2016			3,063				22.97				7.02			$	4,835
Vested and expected to vest at March 31, 2016			2,996				23.09				6.98			$	4,663
Exercisable at March 31, 2016			1,509				26.49				5.11			$	2,204

Summary of Restricted Stock Units Activity

Restricted stock unit activity under our stock-based compensation plans during the three months ended March 31, 2016 was as follows (in thousands except per share amounts):

	Number of Shares (In thousands)				Weighted-Average Grant-Date Fair Value
Non-vested as of December 31, 2015		195			$	17.52
Granted		379			$	21.48
Vested		(23	)		$	15.55
Forfeited or expired		(1	)		$	16.00
Non-vested as of March 31, 2016		550			$	20.34

Fair Value-Based Measurements and Weighted-Average Assumptions

The fair value-based measurements and weighted-average assumptions used in the calculations of these measurements are as follows:

	Stock Options								Employee Stock Purchase Plan
	Three Months Ended								Three Months Ended
	March 31,								March 31,
	2016				2015				2016				2015
Weighted-average fair value	$	13.11			$	10.85			$	8.18			$	17.32
Risk-free interest rate		1.5	%			1.6	%			0.6	%			0.4	%
Expected life (in years)		5.6				5.8				1.2				1.2
Volatility		0.7				0.8				0.6				2.4

Stock-Based Compensation Expense

The components of stock-based compensation expense were (in thousands):

	Three Months Ended
	March 31,
	2016				2015
Research and development	$	1,515			$	885
General and administrative		1,729				1,069
Total	$	3,244			$	1,954

X

- Definition

Tabular disclosure of the amount of total share-based compensation cost, including the amounts attributable to each share-based compensation plan and any related tax benefits.

+ 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

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- Definition

Tabular disclosure of the following for fully vested share options (or share units) and share options expected to vest at the date of the latest statement of financial position: the number, weighted-average exercise price (or conversion ratio), aggregate intrinsic value (except for nonpublic entities), and weighted-average remaining contractual term of options (or share units) outstanding.

+ 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 (e)(1)
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

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- Definition

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

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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

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