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Stock-based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2019
Share-based Payment Arrangement [Abstract] |
Schedule of Stock-Based Compensation Expense | The following stock-based compensation amounts were recognized for the periods indicated (in thousands):
| Year Ended December 31, |  |  |  |
| 2019 |  | 2018 |  | 2017
Research and development | $ | 10,023 |  |  | $ | 7,919 |  |  | $ | 7,388 |
General and administrative |  | 9,548 |  |  | 8,601 |  |  | 7,356 |
Total stock-based compensation expense | $ | 19,571 |  |  | $ | 16,520 |  |  | $ | 14,744 |
Schedule of Employee Stock Options Award Valuation Assumptions | 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:
| Year Ended December 31, |  |  |  |
| 2019 |  | 2018 |  | 2017
Expected dividend yield | 0% |  |  | 0% |  |  | 0% |
Expected volatility | 74% - 76% |  | 68% - 72% |  |  | 67% - 68% |
Risk-free interest rate | 1.4% - 2.6% |  | 2.4% - 3.1% |  | 1.9% - 2.3%
Expected term | 6.25 years |  | 6.25 years |  | 6.25 years
Schedule of Stock Option Activity | The following table summarizes stock option activity for 2019:
| Shares |  | Weighted-Average Exercise Price |  | Weighted-Average Remaining Contractual Term (Years) |  | Aggregate Intrinsic Value (in thousands)
Outstanding, December 31, 2018 | 5,273,964 |  |  | $ | 22.23 |  |  | 6.8 |  |
Granted | 1,946,770 |  |  | 20.81 |  |  |  |  |
Exercised | (219,045) |  |  | 3.03 |  |  |  |  |
Forfeited or expired | (294,695) |  |  | 24.72 |  |  |  |  |
Outstanding, December 31, 2019 | 6,706,994 |  |  | 22.33 |  |  | 6.9 |  | $ | 4,749 |
December 31, 2019: |  |  |  |  |  |  |
Exercisable | 4,298,178 |  |  | 22.21 |  |  | 5.9 |  | 4,712 |
Vested and expected to vest | 6,446,218 |  |  | 22.31 |  |  | 6.9 |  | 4,746 |
Schedule of RSU Activity | The following table summarizes RSU activity for 2019:
| Shares |  | Weighted-Average Grant Date Fair Value
Outstanding, December 31, 2018 | — |  |  | — |
Granted | 467,600 |  |  | $ | 15.32 |
Exercised | — |  |  | — |
Forfeited or expired | (15,100) |  |  | 15.32 |
Outstanding, December 31, 2019 | 452,500 |  |  | 15.32 |

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- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14.F) -URI http://asc.fasb.org/extlink&oid=115993241&loc=d3e301413-122809 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5047-113901 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
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- Definition 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. + References No definition available. + Details
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