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Stock Option Plans (Tables)

12 Months Ended

Dec. 31, 2015

Summary of Stock Option Activity for Employee and Nonemployee Awards under Plan

A summary of stock option activity for employee and nonemployee awards under the 2007 Plan and the 2014 Plan during the year ended December 31, 2015 is presented below (Aggregate Intrinsic Value in thousands):

		Number of Shares				Weighted- Average Exercise Price				Weighted- Average Remaining Contractual Life (Years)				Aggregate Intrinsic Value
Outstanding — January 1, 2015			2,126,176			$	4.97				6.7			$	2,701
Granted			2,360,682				5.66
Exercised			(370,230	)			4.40
Forfeited			(661,702	)			5.86
Outstanding — December 31, 2015			3,454,926			$	5.39				8.9			$	—
Options expected to vest — December 31, 2015			2,336,878			$	5.32				9.4			$	—
Options exercisable — December 31, 2015			1,001,415			$	5.56				7.7			$	—

Schedule of Stock-based Compensation Expense

Stock-based compensation expense recorded as research and development and general and administrative expenses is as follows (in thousands):

		As of December 31,
		2015				2014				2013
Research and development		$	795			$	317			$	284
General and administrative			1,580				568				338
Total		$	2,375			$	885			$	622

Summary of Assumptions Used in Black-Scholes Option-Pricing Model for Stock Options Granted to Employees and Non Employees

The assumptions used in the Black-Scholes option-pricing model for stock options granted to employees during the years ended December 31, 2015, 2014, and 2013 are as follows:

		December 31,
		2015		2014		2013
Expected life		6 years		6 years		6 years
Risk-free interest rate		1.45%-2.02%		1.71%-2.00%		1.09%-1.92%
Expected volatility		51%-63%		54%-60%		59%-79%
Expected dividend rate		—%		—%		—%

Non Employee Awards [Member]

Summary of Assumptions Used in Black-Scholes Option-Pricing Model for Stock Options Granted to Employees and Non Employees

The Black-Scholes assumptions used to estimate the fair value of these awards for the years ended December 31, 2015, 2014, and 2013 were as follows:

		December 31,
		2015		2014		2013
Expected life		10 years		8 years		7 years
Risk-free interest rate		2.10%-2.25%		1.86%-2.53%		1.11%-2.86%
Expected volatility		60%-61%		56%-62%		56%-79%
Expected dividend rate		—%		—%		—%

X

- Definition

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 2
-Subparagraph (h)(1)
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-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=27013229&loc=d3e301413-122809

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 14
-Section F

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- Definition

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)
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

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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.

+ References

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-Publisher FASB
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-Paragraph 2
-Subparagraph (f)(2)
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

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