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Equity Plans and Stock-Based Compensation (Tables) | 6 Months Ended
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Jun. 30, 2019
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, 2019 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, 2018 |  |  | 5,750 |  |  | $ | 18.20 |  |  |  |  |  |  |  |  |
Options granted |  |  | 2,925 |  |  |  | 7.04 |  |  |  |  |  |  |  |  |
Options exercised |  |  | (10 | ) |  |  | 5.75 |  |  |  |  |  |  |  |  |
Options cancelled: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Options forfeited (unvested) |  |  | (142 | ) |  |  | 13.98 |  |  |  |  |  |  |  |  |
Options expired (vested) |  |  | (105 | ) |  |  | 17.55 |  |  |  |  |  |  |  |  |
Balance at June 30, 2019 |  |  | 8,418 |  |  | $ | 14.42 |  |  |  | 5.13 |  |  | $ | 199 |
Vested and expected to vest at June 30, 2019 |  |  | 7,970 |  |  | $ | 14.75 |  |  |  | 5.07 |  |  | $ | 173 |
Exercisable at June 30, 2019 |  |  | 3,893 |  |  | $ | 19.14 |  |  |  | 4.17 |  |  | $ | - |
Summary of Restricted Stock Units Activity | Restricted stock unit activity under our stock-based compensation plans during the six months ended June 30, 2019 was as follows (in thousands except per share amounts):
| Number of Shares (In thousands) |  |  | Weighted-Average Grant-Date Fair Value Per Share |
Non-vested as of December 31, 2018 |  | 1,594 |  |  | $ | 8.82 |
Granted |  | 1,822 |  |  |  | 8.80 |
Vested |  | (826 | ) |  |  | 6.79 |
Forfeited |  | (59 | ) |  |  | 11.74 |
Non-vested as of June 30, 2019 |  | 2,531 |  |  | $ | 9.40 |
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, |
| 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
Weighted-average fair value per share | $ | 4.92 |  |  | $ | 11.37 |  |  | $ | 4.67 |  |  | $ | 11.12 |  |  | $ | 5.19 |  |  | $ | 10.39 |
Risk-free interest rate |  | 2.3 | % |  |  | 2.7 | % |  |  | 2.2 | % |  |  | 2.6 | % |  |  | 2.5 | % |  |  | 2.1 | %
Expected life (in years) |  | 4.5 |  |  |  | 4.5 |  |  |  | 4.5 |  |  |  | 4.5 |  |  |  | 1.2 |  |  |  | 1.3 |
Volatility |  | 0.9 |  |  |  | 0.9 |  |  |  | 0.9 |  |  |  | 0.9 |  |  |  | 0.8 |  |  |  | 1.1 |
Stock-Based Compensation Expense | The components of stock-based compensation expense were (in thousands):
| Three Months Ended |  |  | Six Months Ended |
| June 30, |  |  | June 30, |
| 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
Research and development | $ | 1,976 |  |  | $ | 2,674 |  |  | $ | 4,156 |  |  | $ | 4,862 |
Selling, general and administrative |  | 2,470 |  |  |  | 2,997 |  |  |  | 5,550 |  |  |  | 5,585 |
Restructuring |  | 4,122 |  |  |  | - |  |  |  | 4,122 |  |  |  | - |
Cost of sales - product |  | 292 |  |  |  | 619 |  |  |  | 630 |  |  |  | 642 |
Inventory |  | 489 |  |  |  | - |  |  |  | 1,061 |  |  |  | - |
Total | $ | 9,349 |  |  | $ | 6,290 |  |  | $ | 15,519 |  |  | $ | 11,089 |

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- Definition Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e)(1) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
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