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Compensation and Other Benefit Plans (Tables) | 12 Months Ended
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Dec. 31, 2014
Compensation and Other Benefit Plans [Abstract] |
Stock option activity | The following table summarizes the Company’s stock option activity:
|  | 2014 |  |  | 2013 |  |  | 2012 |
|  | Number of Shares |  |  | Weighted Average Exercise Price |  |  | Number of Shares |  |  | Weighted Average Exercise Price |  |  | Number of Shares |  |  | Weighted Average Exercise Price |
Outstanding at beginning of year |  |  | 7,216,041 |  |  | $ | 8.42 |  |  |  | 6,788,383 |  |  | $ | 8.99 |  |  |  | 5,053,435 |  |  | $ | 12.55 |
Granted |  |  | 1,891,989 |  |  |  | 6.69 |  |  |  | 1,168,203 |  |  |  | 3.13 |  |  |  | 2,351,445 |  |  |  | 2.59 |
Exercised |  |  | (915,911 | ) |  |  | 3.91 |  |  |  | (589,355 | ) |  |  | 2.26 |  |  |  | (90,252 | ) |  |  | 1.68 |
Forfeited, expired or cancelled |  |  | (489,810 | ) |  |  | 14.36 |  |  |  | (151,190 | ) |  |  | 17.46 |  |  |  | (526,245 | ) |  |  | 15.84 |
Outstanding at end of year |  |  | 7,702,309 |  |  |  | 8.15 |  |  |  | 7,216,041 |  |  |  | 8.42 |  |  |  | 6,788,383 |  |  |  | 8.99 |
Exercisable at end of year |  |  | 4,908,925 |  |  |  | 9.98 |  |  |  | 4,814,926 |  |  |  | 11.14 |  |  |  | 4,276,834 |  |  |  | 12.42 |
Weighted average grant date fair value |  |  |  |  |  | $ | 4.49 |  |  |  |  |  |  | $ | 2.27 |  |  |  |  |  |  | $ | 1.89 |
Unvested RSU activity | Unvested RSU activity for the year ended December 31, 2014 is summarized below:
|  |  |  |  | Weighted |
|  | Number of |  |  | Average Grant |
|  | Shares |  |  | Date Fair Value |
Unvested awards at December 31, 2013 |  |  | 1,738,037 |  |  | $ | 2.73 |
Granted |  |  | 1,506,194 |  |  |  | 7.03 |
Vested |  |  | (1,099,701 | ) |  |  | 3.51 |
Forfeited |  |  | (190,651 | ) |  |  | 4.22 |
Unvested awards at December 31, 2014 |  |  | 1,953,879 |  |  |  | 5.46 |
Weighted average assumptions | The fair value of stock option awards was estimated using the Black-Scholes model with the following weighted average assumptions for the years ended December 31, 2014, 2013, and 2012:
|  | Year Ended December 31, |
|  | 2014 |  |  | 2013 |  |  | 2012 |
Dividend yield |  |  | 0 | % |  |  | 0 | % |  |  | 0 | %
Expected volatility |  |  | 92 | % |  |  | 92 | % |  |  | 92 | %
Risk-free interest rate |  |  | 1.72 | % |  |  | 0.89 | % |  |  | 0.82 | %
Expected term |  | 5.6 years |  |  | 5.6 years |  |  | 5.6 years |
Stock-based compensation expense | The following table shows total stock-based compensation expense included in the accompanying consolidated statements of comprehensive loss for the years ended December 31, 2014, 2013, and 2012 (in thousands):
|  | Year Ended December 31, |
|  | 2014 |  |  | 2013 |  |  | 2012 |
Research and development |  | $ | 5,557 |  |  | $ | 2,358 |  |  | $ | 2,391 |
Selling, general and administrative |  |  | 5,215 |  |  |  | 2,741 |  |  |  | 1,893 |
Total stock-based compensation expense |  | $ | 10,772 |  |  | $ | 5,099 |  |  | $ | 4,284 |

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