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Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2014

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Schedule of Stock-Based Compensation Expense

The following stock-based compensation amounts were recognized for the periods indicated (in thousands):

		Three Months Ended June 30,								Six Months Ended June 30,
		2014				2013				2014				2013
Research and development		$	365			$	79			$	682			$	172
General and administrative			416				33				711				85
Total stock-based compensation expense		$	781			$	112			$	1,393			$	257

Schedule of Fair Value Option Award Estimated on the Date of Grant Using the Black-Scholes Option-Pricing Model

The fair value of each option award is estimated on the date of grant using the Black-Scholes option-pricing model using the assumptions in the following table:

		Six Months Ended June 30,
		2014		2013
Expected dividend yield		0%		0%
Expected volatility		67%		58%
Risk-free interest rate		2.09% - 2.32%		1.8%
Expected term		6.25 years		7 years
Expected forfeiture rate		5%		5%

Schedule of Stock Option Activity

The following table summarizes stock option activity under the Plan during the six months ended June 30, 2014:

		Shares				Weighted- Average Exercise Price				Weighted-Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value (in thousands)
Outstanding, December 31, 2013			3,200,958			$	4.90			6.9
Granted			236,294				20.61
Exercised			(267,573	)			1.03
Forfeited or expired			(8,452	)			3.32
Outstanding, June 30, 2014			3,161,227				6.41			6.9		$	49,685
June 30, 2014:
Exercisable			1,669,697				2.02			5.1			33,026
Vested and expected to vest			2,978,791				6.15			6.8			47,529

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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

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 718

-SubTopic 10

-Section 50

-Paragraph 1

-Subparagraph (b)

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-Name Accounting Standards Codification

-Topic 718

-SubTopic 10

-Section S99

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-Subparagraph (SAB TOPIC 14.F)

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-Publisher SEC

-Name Staff Accounting Bulletin (SAB)

-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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 718

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (c)(1)

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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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-Publisher FASB

-Name Accounting Standards Codification

-Topic 718

-SubTopic 10

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-Paragraph 2

-Subparagraph (f)(2)

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