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Equity Plans and Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2016

Share Based Compensation [Abstract]

Option Activity under Stock-Based Compensation Plans

Option activity under our stock-based compensation plans during the six months ended June 30, 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			1,173				20.59
Options exercised			(14	)			13.73
Options cancelled:
Options forfeited (unvested)			(27	)			18.26
Options cancelled (vested)			(47	)			45.02
Balance at June 30, 2016			3,976				22.34				6.96			$	373
Vested and expected to vest at June 30, 2016			3,926				22.41				6.94			$	373
Exercisable at June 30, 2016			1,641				25.93				5.23			$	364

Summary of Restricted Stock Units Activity

Restricted stock unit activity under our stock-based compensation plans during the six months ended June 30, 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		(12	)		$	20.44
Non-vested as of June 30, 2016		539			$	20.33

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								Stock Options								Employee Stock Purchase Plan
	Three Months Ended								Six Months Ended								Six Months Ended
	June 30,								June 30,								June 30,
	2016				2015				2016				2015				2016				2015
Weighted-average fair value	$	10.25			$	14.28			$	9.79			$	12.76			$	8.18			$	8.18
Risk-free interest rate		1.5	%			1.7	%			1.4	%			1.7	%			0.6	%			0.4	%
Expected life (in years)		5.4				5.9				5.0				5.9				1.2				1.2
Volatility		0.7				0.7				0.7				0.7				0.6				0.7

Stock-Based Compensation Expense

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

	Three Months Ended								Six Months Ended
	June 30,								June 30,
	2016				2015				2016				2015
Research and development	$	1,336			$	868			$	2,851			$	1,753
General and administrative		1,788				1,050				3,517				2,119
Total	$	3,124			$	1,918			$	6,368			$	3,872

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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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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