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Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2015

Stock-Based Compensation

Schedule of total employee, director and non-employee stock-based compensation expense recognized

Total employee, director and non-employee stock-based compensation expense recognized for the three months and nine months ended September 30, 2015 and 2014 are as follows (in thousands):

		Three Months Ended						Nine Months Ended
		September 30,						September 30,
		2015			2014			2015			2014
General and administrative		$	593		$	276		$	1,628		$	575
Research and development			493			215			1,758			535
		$	1,086		$	491		$	3,386		$	1,110

Summary of stock option activity

				Weighted			Weighted
				Average			Average
		Number of		Exercise			Remaining			Aggregate
		Shares subject		Price			Contractual			Intrinsic
		to outstanding		(Per			Term			Value
		options		Share)			(in years)			(in thousands)
Balances at December 31, 2014		2,826,794		$	5.12
Options granted		930,250		$	15.96
Options forfeited		(9,375)		$	18.75
Options exercised		(369,743)		$	1.47
Balance at September 30, 2015		3,377,926		$	8.47			7.21		$	16,173
Exercisable		1,515,353		$	3.69			5.15		$	12,965

Schedule of weighted average assumptions used for estimation of fair value of stock options

		Options				Options
		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2015		2014		2015		2014
Expected term (years)		6.4		6.0		6.1		6.0
Expected volatility		86.5	%	77.4	%	76.6	%	77.4	%
Risk-free interest rate		1.95	%	2.02	%	1.62	%	2.02	%
Expected dividend yield		—	%	—	%	—	%	—	%

Schedule of weighted average assumptions used for estimation of fair value of ESPP

		ESPP				ESPP
		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2015		2014		2015		2014
Expected term (years)		0.5 - 2.0		0.5 - 2.0		0.5 - 2.0		0.5 - 2.0
Expected volatility		70.6 - 82.9	%	70.6	%	70.6 - 82.9	%	70.6	%
Risk-free interest rate		.06% - .46	%	.06% - .46	%	.06% - .46	%	.06% - .46	%
Expected dividend yield		—	%	—	%	—	%	—	%

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Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of employee stock purchase plans, including, but not limited to: (a) expected term, (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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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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Tabular disclosure of the change in stock options.

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