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Stock-based Compensation (Tables) | 9 Months Ended
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Sep. 30, 2014
Stock-based Compensation [Abstract] |
Weighted average assumptions | The fair value of the stock options granted was estimated based on the following weighted average assumptions for the three and nine months ended September 30, 2014 and 2013:
|  | Three months ended September 30, |  |  | Nine months ended September 30, |
|  | 2014 |  |  | 2013 |  |  | 2014 |  |  | 2013 |
Dividend yield |  |  | 0 | % |  |  | 0 | % |  |  | 0 | % |  |  | 0 | %
Expected volatility |  |  | 88 | % |  |  | 92 | % |  |  | 93 | % |  |  | 92 | %
Risk-free interest rate |  |  | 1.79 | % |  |  | 1.43 | % |  |  | 1.72 | % |  |  | 0.87 | %
Expected term |  | 5.6 years |  |  | 5.6 years |  |  | 5.6 years |  |  | 5.6 years |
Stock option activity | Stock option activity for the nine months ended September 30, 2014 was as follows:
|  | Options |  |  | Weighted Average Exercise Price Per Share |  |  | Weighted Average Remaining Contractual Life (in years) |  |  | Aggregate Intrinsic Value (in thousands) |
Options outstanding at December 31, 2013 |  |  | 7,218,241 |  |  | $ | 8.42 |  |  |  | 6.75 |  |  | $ | 18,213 |
Granted |  |  | 1,846,089 |  |  |  | 6.75 |  |  |  |  |  |  |  |  |
Exercised |  |  | (862,622 | ) |  |  | 4.02 |  |  |  |  |  |  |  |  |
Forfeited, expired or cancelled |  |  | (417,567 | ) |  |  | 15.45 |  |  |  |  |  |  |  |  |
Options outstanding at September 30, 2014 |  |  | 7,784,141 |  |  | $ | 8.13 |  |  |  | 6.97 |  |  | $ | 5,609 |
Options exercisable at September 30, 2014 |  |  | 4,729,821 |  |  | $ | 10.24 |  |  |  | 5.78 |  |  | $ | 3,511 |
Unvested RSU activity | Unvested RSU activity for the nine months ended September 30, 2014 is summarized below:
|  | Number of Shares |  |  | Weighted- Average Grant- Date Fair Value |
Unvested balance at December 31, 2013 |  |  | 1,738,037 |  |  | $ | 2.73 |
Granted |  |  | 1,493,594 |  |  |  | 6.51 |
Vested |  |  | (693,566 | ) |  |  | 3.96 |
Forfeited |  |  | (178,416 | ) |  |  | 4.12 |
Unvested balance at September 30, 2014 |  |  | 2,359,649 |  |  | $ | 5.00 |
Stock-based compensation expense | The following table shows total stock-based compensation expense included in the condensed consolidated statements of comprehensive loss for the three and nine months ended September 30, 2014 and 2013 (in thousands):
|  | Three months ended September 30, |  |  | Nine months ended September 30, |
|  | 2014 |  |  | 2013 |  |  | 2014 |  |  | 2013 |
Research and development |  | $ | 1,765 |  |  | $ | 474 |  |  | $ | 5,124 |  |  | $ | 1,904 |
Selling, general and administrative |  |  | 1,772 |  |  |  | 753 |  |  |  | 4,761 |  |  |  | 2,042 |
Total stock-based compensation expense |  | $ | 3,537 |  |  | $ | 1,227 |  |  | $ | 9,885 |  |  | $ | 3,946 |

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- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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