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Equity Plans and Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2019

Share Based Compensation [Abstract]

Option Activity under Stock-Based Compensation Plans

Option activity under our stock-based compensation plans during the nine months ended September 30, 2019 was as follows (in thousands except per share amounts):

		Shares Underlying Outstanding Options				Weighted-Average Exercise Price Per Share				Weighted-Average Remaining Contractual Term (years)				Aggregate Intrinsic Value
Balance at December 31, 2018			5,750			$	18.20
Options granted			3,025				6.94
Options exercised			(10	)			5.75
Options cancelled:
Options forfeited (unvested)			(632	)			12.53
Options expired (vested)			(136	)			16.77
Balance at September 30, 2019			7,997			$	14.43				4.57			$	6
Vested and expected to vest at   September 30, 2019			7,692			$	14.70				4.51			$	5
Exercisable at September 30, 2019			4,485			$	18.40				3.57			$	-

Summary of Restricted Stock Units Activity

Restricted stock unit activity under our stock-based compensation plans during the nine months ended September 30, 2019 was as follows (in thousands except per share amounts):

	Number of Shares				Weighted-Average Grant-Date Fair Value Per Share
Non-vested as of December 31, 2018		1,594			$	8.82
Granted		1,823				8.80
Vested		(964	)			6.72
Forfeited		(385	)			11.24
Non-vested as of September 30, 2019		2,068			$	9.33

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								Nine Months Ended								Nine Months Ended
	September 30,								September 30,								September 30,
	2019				2018				2019				2018				2019				2018
Weighted-average fair value per share	$	2.74			$	9.36			$	4.61			$	10.91			$	2.72			$	8.30
Risk-free interest rate		1.6	%			2.8	%			2.2	%			2.6	%			1.9	%			2.4	%
Expected life (in years)		4.5				4.5				4.5				4.5				1.3				1.3
Volatility		0.9				0.9				0.9				0.9				0.7				1.1

Stock-Based Compensation Expense

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

	Three Months Ended								Nine Months Ended
	September 30,								September 30,
	2019				2018				2019				2018
Research and development	$	1,661			$	2,332			$	5,817			$	7,194
Selling, general and administrative		2,278				2,976				7,828				8,561
Restructuring		-				-				4,122				-
Cost of sales - product		189				443				819				1,085
Inventory		620				295				1,681				295
Total	$	4,748			$	6,046			$	20,267			$	17,135

X

- 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

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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=116856206&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.

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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.

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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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