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Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2015

Stock-Based Compensation

Schedule of stock options outstanding

		December 31,
		2015			2014			2013
Exercisable options			1,600,351			1,393,729			1,203,885
Weighted average exercise price per share of exercisable options		$	3.99		$	1.01		$	0.59
Weighted average grant date fair value per share of options granted during the year		$	10.66		$	7.39		$	3.78
Options available for future grants			2,917,182			2,583,186			2,403,368
Weighted average remaining contractual life			6.98			6.43			5.72

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, 2013		1,794,214		$	1.66		5.72
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
Options granted		940,250			15.94
Options forfeited		(9,375)			18.75
Options expired		(7,500)			11.46
Options exercised(3)		(379,268)			1.46
Balances at December 31, 2015		3,370,901		$	8.50		6.98		$	21,854
As of December 31, 2015
Options vested and expected to vest		3,064,829		$	8.09		6.81		$	21,048
Exercisable		1,600,351		$	3.99		5.10		$	17,016

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		1,413,261		4.60		$	1.87		1,163,519		$	1.38
$5.50 - $8.56		50,000		7.59		$	7.64		20,808		$	7.09
$9.26 – $14.38		1,026,140		8.33		$	11.2		415,899		$	11.11
$14.54 – $22.35		881,500		9.18		$	16.0		125		$	16.52
		3,370,901		6.98		$	8.50		1,600,351		$	3.99

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

		Options
		2015			2014			2013
Common stock fair value per share		$	11.82 - 22.35		$	8.56 - 16.52		$	5.50
Expected volatility			69.17% - 86.46%			77.4%			86.7%
Risk-free interest rate			1.44% - 1.84%			1.67% - 1.96%			0.9% – 2.1%
Expected dividend yield			—			—			—
Expected term (in years)			5.23 - 6.08			6.0			6.0

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

		ESPP
		2015		2014		2013
Expected term (years)		0.5 - 2.0		0.5 - 2.0		—
Expected volatility		67.8% - 82.9%		70.6% - 71.8%		—
Risk-free interest rate		.07% - .93%		.06% - .46%		—
Expected dividend yield		—		—		—

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

		Year Ended
		December 31,
(In thousands)		2015			2014			2013
General and administrative		$	2,218		$	848		$	40
Research and development			2,650			1,013			158
		$	4,869		$	1,861		$	198

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