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Stock-Based Compensation (Tables)
12 Months Ended
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