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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2020
Stock-Based Compensation. |
Schedule of equity plan | Vesting schedules for our equity plans generally are as follows:
​ | ​ | ​
Grant Type |  | Vesting Schedule
Employee initial grants |  | 25% at one-year anniversary, 1/48 monthly thereafter
Employee recurring grants |  | 1/48 monthly
Board member initial grants |  | 33+% per year for 3 years
Board member recurring grants |  | 100% after one year
Non-employee consultant grants |  | 1/12 monthly
Non-employee consultant grants |  | 1/48 monthly
Stock-Based Compensation Expense | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​
​ | Year Ended December 31,
​ | 2020 |  | 2019 |  | 2018
​ | (In thousands)
Research and development | $ | 6,331 | ​ | $ | 6,095 | ​ | $ | 4,961
Selling, general and administrative |  | 8,594 | ​ |  | 7,690 | ​ |  | 6,752
Total | $ | 14,925 | ​ | $ | 13,785 | ​ | $ | 11,713
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Year Ended December 31, |
​ | 2020 | ​ | 2019 | ​ | 2018 | ​
Estimated weighted-average fair value | $ | 8.19 | ​ | $ | 9.93 | ​ | $ | 10.32 | ​
Weighted-average assumptions: |  | ​ | ​ |  |  | ​ |  |  | ​
Expected volatility |  | 77 | % |  | 80 | % |  | 78 | %
Expected life, in years |  | 6.0 | ​ |  | 6.0 | ​ |  | 6.0 | ​
Risk-free interest rate |  | 1.06 | % |  | 2.41 | % |  | 2.68 | %
Expected dividend yield |  | — | % |  | — | % |  | — | %
Schedule of Stock Option Activity | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | Weighted- |  | ​ |  | ​ | ​
​ | ​ | ​ | ​ | Average | ​ | ​ | ​ | Aggregate
​ | ​ | ​ | ​ | Exercise | ​ | Remaining | ​ | Intrinsic
​ | ​ | Options | ​ | Price per | ​ | Contractual Life | ​ | Value
​ | ​ | Outstanding | ​ | Share | ​ | (In years) | ​ | (In thousands)
Balance at December 31, 2019 |  | 11,207,931 | ​ | $ | 11.72 |  |  |  | ​ |
Granted |  | 2,237,535 | ​ |  | 12.29 |  |  |  | ​ |
Exercised |  | (556,421) | ​ |  | 9.03 |  |  |  | ​ |
Canceled |  | (950,517) | ​ |  | 12.14 |  |  |  | ​ |
Balance at December 31, 2020 |  | 11,938,528 | ​ | $ | 11.92 |  | 5.8 | ​ | $ | 32,384
Vested and expected to vest at December 31, 2020 |  | 11,584,202 | ​ | $ | 11.88 |  | 5.8 | ​ | $ | 31,880
Exercisable at December 31, 2020 |  | 8,805,571 | ​ | $ | 11.48 |  | 4.9 | ​ | $ | 27,844

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