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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2017
Stock-Based Compensation |
Schedule of stock options outstanding |
|  | December 31, |
|  | 2017 |  | 2016 |  | 2015 |
Exercisable options |  |  | 2,558,941 |  |  | 1,743,765 |  |  | 1,600,351 |
Weighted average exercise price per share of exercisable options |  | $ | 11.06 |  | $ | 8.87 |  | $ | 3.99 |
Weighted average grant date fair value per share of options granted during the year |  | $ | 16.92 |  | $ | 10.30 |  | $ | 10.66 |
Options available for future grants |  |  | 3,394,651 |  |  | 2,943,216 |  |  | 2,917,182 |
Weighted average remaining contractual life |  |  | 6.58 |  |  | 7.82 |  |  | 6.98 |
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, 2015 |  | 3,370,901 |  | $ | 8.50 |  | 6.98 |  |  |  |
Options granted |  | 1,429,500 |  |  | 15.08 |  |  |  |  |  |
Options forfeited |  | (54,503) |  |  | 12.21 |  |  |  |  |  |
Options expired |  | (1,031) |  |  | 15.69 |  |  |  |  |  |
Options exercised(3) |  | (699,066) |  |  | 1.66 |  |  |  |  |  |
Balances at December 31, 2016 |  | 4,045,801 |  |  | 11.95 |  | 7.82 |  | $ | 58,131 |
Options granted |  | 1,511,100 |  |  | 22.61 |  |  |  |  |  |
Options forfeited |  | (96,856) |  |  |  |  |  |  |  |  |
Options expired |  | (3,000) |  |  |  |  |  |  |  |  |
Options exercised(3) |  | (363,603) |  |  |  |  |  |  |  |  |
Balances at December 31, 2017 |  | 5,093,442 |  | $ | 15.32 |  |  |  | $ |  |
As of December 31, 2017 |  |  |  |  |  |  |  |  |  |  |
Options vested and expected to vest |  | 5,093,442 |  | $ | 15.32 |  | 7.62 |  | $ | 35,495 |
Exercisable |  | 2,558,941 |  | $ | 11.06 |  | 6.58 |  | $ | 28,017 |
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 |  | 622,046 |  | 4.82 |  | $ | 3.17 |  | 622,046 |  | $ | 3.17 |
$9.26 – $13.89 |  | 1,781,232 |  | 7.26 |  | $ | 11.87 |  | 1,205,142 |  | $ | 11.64 |
$14.10 – $21.15 |  | 968,314 |  | 7.40 |  | $ | 15.8 |  | 634,199 |  | $ | 15.68 |
$21.28 – $26.76 |  | 1,721,850 |  | 9.13 |  | $ | 23.0 |  | 97,554 |  | $ | 24.13 |
|  | 5,093,442 |  | 7.62 |  | $ | 15.32 |  | 2,558,941 |  | $ | 11.06 |
Schedule of total employee, director and non-employee stock-based compensation expense recognized |
|  | Year Ended |
|  | December 31, |
(In thousands) |  | 2017 |  | 2016 |  | 2015 |
General and administrative |  | $ | 5,617 |  | $ | 3,592 |  | $ | 2,218 |
Research and development |  |  | 8,034 |  |  | 4,256 |  |  | 2,650 |
|  | $ | 13,651 |  | $ | 7,848 |  | $ | 4,869 |
Schedule of weighted average assumptions used for estimation of fair value of stock options |
|  | Options |
|  | 2017 |  | 2016 |  | 2015 |
Common stock fair value per share |  | $ | 19.61 - 25.67 |  | $ | 11.50 - 26.76 |  | $ | 11.82 - 22.35 |
Expected volatility |  |  | 77.42% - 96.73% |  |  | 75.77% - 90.83% |  |  | 69.17% - 86.46% |
Risk-free interest rate |  |  | .96% - 2.37% |  |  | 1.03% - 2.18% |  |  | 1.44% - 1.84% |
Expected dividend yield |  |  | — |  |  | — |  |  | — |
Expected term (in years) |  |  | 5.23 - 6.08 |  |  | 5.23 - 6.08 |  |  | 5.23 - 6.08 |
Schedule of weighted average assumptions used for estimation of fair value of ESPP |
|  | ESPP
|  | 2017 |  | 2016 |  | 2015
Expected term (years) |  | 0.5 - 2.0 |  | 0.5 - 2.0 |  | 0.5 - 2.0
Expected volatility |  | 67.8% - 79.8% |  | 67.8% - 79.8% |  | 67.8% - 82.9%
Risk-free interest rate |  | .47% - 1.8% |  | .47% - .93% |  | .07% - .93%
Expected dividend yield |  | — |  | — |  | —

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