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STOCKHOLDERS' EQUITY (Tables)
12 Months Ended
Dec. 31, 2016
STOCKHOLDERS' EQUITY  
Schedule of aggregate option and award activity

 

                                                                                                                                                                                    

 

 

 

 

Outstanding Options

 

 

Shares
Available
For Grant

 

Number of
Shares

 

Weighted Average
Exercise Price
Per Share

 

Weighted Average
Remaining
Contractual Life
(In years)

 

Aggregate
Intrinsic
Value
(In thousands)

Balance at December 31, 2015

 

 

12,054,916

 

 

17,205,683

 

$3.29

 

 

 

 

Options granted

 

 

(2,834,000

)

 

2,834,000

 

$2.56

 

 

 

 

Awards granted

 

 

(21,541

)

 

 

$   —

 

 

 

 

Options exercised

 

 

 

 

(328,486

)

$1.50

 

 

 

 

Options cancelled/forfeited

 

 

371,160

 

 

(585,910

)

$5.34

 

 

 

 

​  

​  

​  

​  

Balance at December 31, 2016

 

 

9,570,535

 

 

19,125,287

 

$3.15

 

6.65

 

$3,816

​  

​  

​  

​  

​  

​  

​  

​  

Options exercisable at December 31, 2016

 

 

 

 

 

14,074,457

 

$2.99

 

6.05

 

$3,718

​  

​  

​  

​  

Options fully vested and expected to vest at December 31, 2016

 

 

 

 

 

18,694,300

 

$3.14

 

6.60

 

$3,815

​  

​  

​  

​  

 

Schedule of information about stock options outstanding by exercise price range

 

 

        Information about stock options outstanding as of December 31, 2016 is as follows:

                                                                                                                                                                                    

 

 

Options Outstanding

Exercise Price Range

 

Number of
Shares

 

Weighted Average
Exercise Price
Per Share

 

Weighted Average
Remaining
Contractual Life
(In years)

$1.10 - $1.51

 

 

5,668,162 

 

$1.45

 

5.89

$1.55 - $2.54

 

 

5,017,031 

 

$2.27

 

7.25

$2.74 - $5.01

 

 

6,347,008 

 

$4.55

 

7.28

$5.09 - $9.32

 

 

2,093,086 

 

$5.59

 

5.36

​  

​  

$1.10 - $9.32

 

 

19,125,287 

 

$3.15

 

6.65

​  

​  

​  

​  

        

Schedule of aggregate restricted stock activity

 

                                                                                                                                                                                    

 

 

Number of
Shares

 

Weighted
Average
Grant Date
Fair Value
Per Share

 

Weighted Average
Remaining
Contractual Term
(In years)

Non-vested restricted stock at December 31, 2015

 

 

500

 

$4.65

 

0.10

Granted

 

 

21,541

 

$2.44

 

 

Vested

 

 

(22,041

)

$2.49

 

 

​  

​  

Non-vested restricted stock at December 31, 2016

 

 

 

$—

 

​  

​  

​  

​  

 

Summary of allocation of stock-based compensation expense related to share-based payment awards

 

                                                                                                                                                                                    

 

 

Year Ended December 31,

 

(In thousands)

 

2016

 

2015

 

2014

 

Research and development

 

$

1,275 

 

$

2,139 

 

$

2,545 

 

Restructuring charges

 

 

 

 

307 

 

 

 

General and administrative

 

 

6,970 

 

 

5,951 

 

 

5,113 

 

​  

​  

​  

​  

​  

​  

Stock-based compensation expense included in operating expenses

 

$

8,245 

 

$

8,397 

 

$

7,658 

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

Schedule of assumptions used to estimate the fair value of stock options granted

 

                                                                                                                                                                                    

 

 

2016

 

2015

 

2014

Dividend yield

 

0%

 

0%

 

0%

Expected volatility range

 

0.888 to 0.890

 

0.874 to 0.884

 

0.898 to 0.922

Risk-free interest rate range

 

1.21% to 1.38%

 

1.68% to 1.71%

 

1.64% to 1.92%

Expected term

 

5.5 yrs

 

5.5 yrs

 

5.5 yrs

 

Schedule of assumptions used to estimate the fair value of employee stock purchases under the purchase plan

 

                                                                                                                                                                                    

 

 

2016

 

2015

 

2014

Dividend yield

 

0%

 

0%

 

0%

Expected volatility range

 

0.641 to 0.684

 

0.654 to 1.392

 

0.835 to 1.666

Risk-free interest rate range

 

0.28% to 0.45%

 

0.11% to 0.28%

 

0.06% to 0.15%

Expected term range

 

6 mos to 12 mos

 

6 mos to 12 mos

 

6 mos to 12 mos

 

Schedule of common stock reserved for future issuance

 

 

        Common stock reserved for future issuance as of December 31, 2016 is as follows:

                                                                                                                                                                                    

Outstanding stock options

 

 

19,125,287 

 

Options and awards available for grant

 

 

9,570,535 

 

Employee stock purchase plan

 

 

915,115 

 

Warrant outstanding

 

 

537,893 

 

​  

​  

Total

 

 

30,148,830 

 

​  

​  

​  

​