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Equity Plans and Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2018

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, 2018 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, 2017			3,555			$	19.56
Options granted			2,110				16.87
Options exercised			(30	)			14.25
Options cancelled:
Options forfeited (unvested)			(110	)			13.30
Options expired (vested)			(44	)			40.41
Balance at June 30, 2018			5,481			$	18.50				5.91			$	2,373
Vested and expected to vest at   June 30, 2018			5,215			$	18.57				5.87			$	2,302
Exercisable at June 30, 2018			2,659			$	20.04				5.29			$	1,420

Summary of Restricted Stock Units Activity

Restricted stock unit activity under our stock-based compensation plans during the six months ended June 30, 2018 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, 2017		2,443			$	6.01
Granted		435				16.13
Vested		(1,041	)			5.82
Forfeited		(50	)			7.66
Non-vested as of June 30, 2018		1,787			$	8.53

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,
	2018				2017				2018				2017				2018				2017
Weighted-average fair value	$	11.37			$	3.90			$	11.12			$	4.12			$	10.39			$	2.37
Risk-free interest rate		2.7	%			1.8	%			2.6	%			1.9	%			2.1	%			0.9	%
Expected life (in years)		4.5				4.5				4.5				4.5				1.3				1.2
Volatility		0.9				0.9				0.9				0.9				1.1				1.0

Stock-Based Compensation Expense

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

	Three Months Ended								Six Months Ended
	June 30,								June 30,
	2018				2017				2018				2017
Research and development	$	2,674			$	1,771			$	4,862			$	3,734
Selling, general and administrative		2,997				1,592				5,585				3,450
Cost of sales - product		619				-				642				-
Total	$	6,290			$	3,363			$	11,089			$	7,184

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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-URI http://asc.fasb.org/extlink&oid=109197908&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

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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

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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.

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