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Equity Plans and Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2017

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, 2017 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, 2016			3,975			$	21.38
Options granted			155				6.24
Options exercised			-				-
Options cancelled:
Options forfeited (unvested)			(279	)			18.50
Options cancelled (vested)			(52	)			44.32
Balance at March 31, 2017			3,799				20.65				6.16			$	42
Vested and expected to vest at March 31, 2017			3,785				20.67				6.15			$	42
Exercisable at March 31, 2017			2,181				22.93				5.41			$	19

Summary of Restricted Stock Units Activity

Restricted stock unit activity under our stock-based compensation plans during the three months ended March 31, 2017 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, 2016		699			$	12.12
Granted		1,407				4.18
Vested		(171	)			18.62
Forfeited or expired		(61	)			15.26
Non-vested as of March 31, 2017		1,874			$	5.47

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,
	2017				2016			2017				2016
Weighted-average fair value	$	4.31			$	13.11		$	2.34			$	8.18
Risk-free interest rate		2.0	%			1.5	%		0.9	%			0.6	%
Expected life (in years)		4.5				5.6			1.3				1.2
Volatility		0.9				0.7			1.0				0.6

Stock-Based Compensation Expense

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

	Three Months Ended
	March 31,
	2017				2016
Research and development	$	1,963			$	1,515
General and administrative		1,858				1,729
Total	$	3,821			$	3,244

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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