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Equity Plans and Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2017

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, 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			279				6.08
Options exercised			-				-
Options cancelled:
Options forfeited (unvested)			(310	)			18.24
Options cancelled (vested)			(193	)			29.32
Balance at June 30, 2017			3,751				20.09				6.09			$	1,136
Vested and expected to vest at June 30, 2017			3,741				20.10				6.09			$	1,136
Exercisable at June 30, 2017			2,290				22.34				5.57			$	151

Summary of Restricted Stock Units Activity

Restricted stock unit activity under our stock-based compensation plans during the six months ended June 30, 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		2,124				4.76
Vested		(171	)			18.62
Forfeited or expired		(93	)			12.25
Non-vested as of June 30, 2017		2,559			$	5.58

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,
	2017				2016				2017				2016				2017				2016
Weighted-average fair value	$	3.90			$	10.25			$	4.12			$	9.79			$	2.37			$	8.18
Risk-free interest rate		1.8	%			1.5	%			1.9	%			1.4	%			0.9	%			0.6	%
Expected life (in years)		4.5				5.4				4.5				5.0				1.2				1.2
Volatility		0.9				0.7				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								Six Months Ended
	June 30,								June 30,
	2017				2016				2017				2016
Research and development	$	1,771			$	1,336			$	3,734			$	2,851
General and administrative		1,592				1,788				3,450				3,517
Total	$	3,363			$	3,124			$	7,184			$	6,368

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=96867065&loc=d3e5070-113901

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- Definition

Tabular disclosure of number, weighted-average exercise price or conversion ratio, aggregate intrinsic value, and weighted-average remaining contractual term for outstanding options that are fully vested and expected to vest. Includes, but is not limited to, unvested options for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur.

+ 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=96867065&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)
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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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (f)(2)
-URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901

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