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Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2018

Information Regarding Stock Options Outstanding Stock Options Vested and Expected to Vest and Stock Options Exercisable

Information regarding the Company’s stock options outstanding, stock options vested and expected to vest, and stock options exercisable at December 31, 2018, was as follows (in thousands except weighted average exercise price and contractual term):

		Number of Shares				Weighted Average Exercise Price				Weighted Average Remaining Contractual Term (Years)				Aggregate Intrinsic Value
Balances at December 31, 2018
Stock options outstanding			17,560			$	4.47				6.3			$	14,345
Stock options vested and expected to vest			17,276				4.47				6.3				14,179
Stock options exercisable			12,336				4.37				5.4				11,402

Recognition of Stock-Based Compensation Expense

Stock-based compensation expense recognized on the Company’s consolidated statements of operations for the years ended December 31, 2018, 2017 and 2016, was as follows (in thousands):

		Year Ended December 31,
		2018				2017				2016
Research and development		$	1,669			$	1,323			$	1,091
Selling, general and administrative			8,725				8,032				6,974
Total stock-based compensation expense		$	10,394			$	9,355			$	8,065

Weighted Average Assumptions Used to Value Stock-Based Awards

The weighted average assumptions used to value the Company’s stock-based awards for the years ended December 31, 2018, 2017 and 2016, was as follows:

		Year Ended December 31,
		2018				2017				2016
Stock Options:
Expected term (in years)			6.07				6.12				5.85
Estimated volatility		50%				47%				49%
Risk-free interest rate		2.72%				2.14%				1.41%
Expected dividend yield		0%				0%				0%
Employee Stock Purchase Plan Rights:
Expected term (in years)			0.74				0.92				0.76
Estimated volatility		47%				57%				47%
Risk-free interest rate		2.34%				1.08%				0.55%
Expected dividend yield		0%				0%				0%

2008 Equity Incentive Plan

Activity Under Equity Incentive Plans Related to Stock Options

Activity under the Company’s equity incentive plans related to stock options is set forth below (in thousands except per share amounts):

		Number of Options Outstanding				Weighted Average Exercise Price per Share
Balances at December 31, 2017			17,138			$	4.27
Granted			3,447				4.78
Exercised			(2,195	)			3.19
Forfeited			(678	)			4.73
Expired			(152	)			5.93
Balances at December 31, 2018			17,560				4.47

Activity Under Equity Incentive Plans Related to RSUs

Activity under the Company’s equity incentive plans related to RSUs is set forth below (in thousands except per share amounts):

		Number of Shares Outstanding				Weighted Average Grant Date Fair Value per Share
Balances at December 31, 2017			1,256			$	4.53
Granted (1)			1,420				4.51
Vested			(521	)			4.45
Forfeited			(154	)			4.22
Balances at December 31, 2018			2,001				4.56

(1) Includes the number of shares issuable under the performance-based restricted stock unit awards granted during the twelve months ended December 31, 2018.

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