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Stock Incentive Plans (Tables)
12 Months Ended
Dec. 31, 2015
Stock Incentive Plans.  
Summary of the Company's stock option activity

 

 

Shares

 

Weighted-
Average
Exercise Price

 

Weighted
Average
Remaining
Contractual
Term
(years)

 

Aggregate
Intrinsic Value
(in thousands)

 

Outstanding at December 31, 2014

 

 

1,226,140

 

$

4.14

 

 

8.15

 

$

6,579

 

Granted

 

 

606,942

 

 

11.42

 

 

 

 

 

 

 

Exercised

 

 

(40,548

)

 

2.24

 

 

 

 

 

 

 

Cancelled or forfeited

 

 

(68,980

)

 

6.49

 

 

 

 

 

 

 

​  

​  

Outstanding at December 31, 2015

 

 

1,723,554

 

$

6.66

 

 

7.92

 

$

4,267

 

​  

​  

​  

​  

Exercisable at December 31, 2015

 

 

795,501

 

$

3.47

 

 

6.77

 

$

3,562

 

​  

​  

Vested or expected to vest at December 31, 2015

 

 

1,607,456

 

$

6.40

 

 

7.84

 

$

4,223

 

​  

​  

 

Schedule of assumptions made based on the Black-Scholes option pricing model

 

 

Year Ended December 31,

 

 

 

2015

 

2014

 

2013

 

Weighted-average expected volatility

 

 

73.6 - 86.8

%

 

75.2 - 83.4

%

 

75.0 - 81.5

%

Expected term (in years)

 

 

6.17 - 10.00

 

 

6.25 - 10.00

 

 

6.25 - 10.00

 

Risk free interest rate

 

 

0.92 - 2.45

%

 

1.71 - 3.01

%

 

0.92 - 2.03

%

Expected dividend yield

 

 

%

 

%

 

%