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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2014
Stock-Based Compensation |
Schedule of stock options outstanding |
|  | December 31, |
|  | 2014 |  | 2013 |  | 2012 |
Exercisable options |  |  | 1,393,729 |  |  | 1,203,885 |  |  | 1,094,573 |
Weighted average exercise price per share of exercisable options |  | $ | 1.01 |  | $ | 0.59 |  | $ | 0.59 |
Weighted average grant date fair value per share of options granted during the year |  | $ | 7.39 |  | $ | 3.78 |  | $ | 0.34 |
Options available for future grants |  |  | 2,583,186 |  |  | 2,403,368 |  |  | 753,692 |
Weighted average remaining contractual life |  |  | 6.43 |  |  | 5.72 |  |  | 7.79 |
Summary of stock option activity |
|  |  |  |  |  |  | Weighted- |  |  |  |
|  |  |  | Weighted- |  | Average |  |  |  |
|  |  |  | Average |  | Remaining |  |  |  |
|  |  |  | Exercise |  | Contractual |  | Aggregate |
|  | Number of |  | Price |  | Term |  | Intrinsic Value |
|  | Shares |  | (Per Share)(1) |  | (in years) |  | (in thousands)(2) |
Balances at December 31, 2012 |  | 1,304,848 |  | $ | 0.59 |  | 7.79 |  |  |  |
Options granted |  | 517,062 |  |  | 4.29 |  |  |  |  |  |
Options canceled |  | (5,305) |  |  | 0.59 |  |  |  |  |  |
Options exercised(3) |  | (22,391) |  |  | 0.59 |  |  |  |  |  |
Balances at December 31, 2013 |  | 1,794,214 |  |  | 1.66 |  | 5.72 |  | $ | 13,429 |
Options granted |  | 1,049,521 |  |  | 10.99 |  |  |  |  |  |
Options forfeited |  | (1,000) |  |  | 10.31 |  |  |  |  |  |
Options exercised(3) |  | (15,941) |  |  | 0.59 |  |  |  |  |  |
Balances at December 31, 2014 |  | 2,826,794 |  | $ | 5.12 |  | 6.43 |  | $ | 30,863 |
As of December 31, 2014: |  |  |  |  |  |  |  |  |  |  |
Options vested and expected to vest |  | 2,531,221 |  | $ | 4.72 |  | 6.12 |  | $ | 28,642 |
Exercisable |  | 1,393,729 |  | $ | 1.01 |  | 3.68 |  | $ | 20,949 |
Schedule of stock options outstanding and exercisable by exercise price |
Stock Options Outstanding |  | Stock Options Exercisable |
|  |  |  | Weighted- |  |  |  |  |  |  |  |  |
|  |  |  | Average |  |  |  |  |  |  |  |  |
|  |  |  | Remaining |  | Weighted- |  |  |  | Weighted- |
Range of |  |  |  | Contractual |  | Average |  |  |  | Average |
Exercise |  | Number of |  | Term |  | Exercise Price |  | Number of |  | Exercise Price |
Prices |  | Shares |  | (in years) |  | Per Share |  | Shares |  | Per Share |
$0.59 - $4.25 |  | 1,763,294 |  | 4.71 |  | $ | 1.63 |  | 1,388,779 |  | $ | 0.99 |
$4.25 - $8.56 |  | 55,000 |  | 9.28 |  | $ | 7.73 |  | 4,950 |  | $ | 5.50 |
$9.26 – 16.52 |  | 1,008,500 |  | 9.28 |  | $ | 11.1 |  | — |  | $ | — |
|  | 2,826,794 |  | 6.43 |  | $ | 5.12 |  | 1,393,729 |  | $ | 1.01 |
Schedule of weighted average assumptions used for estimation of fair value of stock options |
|  | Options |
|  | 2014 |  | 2013 |  | 2012 |
Common stock fair value per share |  | $ | 8.56 - 16.52 |  | $ | 5.50 |  | $ | 0.59 |
Expected volatility |  |  | 77.4% |  |  | 86.7% |  |  | 63.7% |
Risk-free interest rate |  |  | 1.67% - 1.96% |  |  | 0.9% – 2.1% |  |  | 2.68% |
Expected dividend yield |  |  | — |  |  | — |  |  | — |
Expected term (in years) |  |  | 6.0 |  |  | 6.0 |  |  | 6.0 |
Schedule of weighted average assumptions used for estimation of fair value of ESPP |
|  | ESPP
|  | Year Ended
|  | December 31,
|  | 2014 |  | 2013 |  | 2012
Expected term (years) |  | 0.5 - 2.0 |  | — |  | —
Expected volatility |  | 70.6% - 71.8% |  | — |  | —
Risk-free interest rate |  | .06% - .46% |  | — |  | —
Expected dividend yield |  | — |  | — |  | —
Schedule of total employee, director and non-employee stock-based compensation expense recognized |
|  | Years Ended |
|  | December 31, |
(In thousands) |  | 2014 |  | 2013 |  | 2012 |
General and administrative |  | $ | 848 |  | $ | 40 |  | $ | 19 |
Research and development |  |  | 1,013 |  |  | 158 |  |  | 10 |
|  | $ | 1,861 |  | $ | 198 |  | $ | 29 |

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