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Stock Incentive Plans and Stock Based Compensation (Tables)

12 Months Ended

Dec. 31, 2015

Stock Option Activity

The following table summarizes all stock option activity for the year ended December 31, 2015 (in thousands, except for per share amounts):

		Number of Shares				Weighted Average Exercise Price				Weighted Average Remaining Contractual Term				Aggregate Intrinsic Value
Outstanding January 1, 2015			10,670			$	4.95
Granted			7,976				2.16
Cancelled/Expired			(810	)			3.75
Exercised			(18	)			1.76
Outstanding, December 31, 2015			17,818				3.76				8.0 years			$	1,949
Exercisable, December 31, 2015			9,406				5.02				6.9 years			$	833
Vested and Expected to Vest, December 31, 2015			2,756				4.04				8.1 years			$	520
Available for future grant as of December 31, 2015			8,960

Assumptions Used to Estimate Fair Value of Share-Based Payment Awards

For 2015, 2014 and 2013, the Company used the following assumptions to estimate the fair value of share-based payment awards:

		2015		2014		2013
Risk free interest rate		1.37% - 1.68%		1.37% - 1.68%		0.91% - 2.07%
Expected dividend yield		0.00%		0.00%		0.00%
Expected option life (years)		6.25		6.25		6.25
Expected volatility		86% - 97%		97% - 109%		91% - 110%

Restricted Stock Unit Activity

The following table presents the restricted stock unit activity for the years ended December 31, 2015 and 2014 (in thousands, except for weighted average amounts):

		Shares				Weighted Average Grant Date Fair Value
Outstanding—as of January 1, 2014			196			$	6.96
Granted			2,255				2.03
Vested			—				—
Forfeited			(195	)			3.17
Outstanding—as of December 31, 2014			2,256				2.03
Granted			9,888				2.12
Vested			(821	)			2.14
Forfeited			(436	)			1.45
Outstanding—as of December 31, 2015			10,887				2.12

Stock-Based Compensation Expense Related to Option Awards

The following table presents the stock-based compensation expense related to stock based awards for the years ended December 31, 2015, 2014 and 2013 (in thousands):

		2015				2014				2013
Research and development		$	3,280			$	2,701			$	2,837
Selling, general and administrative			10,609				6,321				11,848
Stock-based compensation expense		$	13,889			$	9,022			$	14,685

X

- Definition

Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.

+ References

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-Publisher SEC
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-Number Topic 14
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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.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

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