Quarterly report pursuant to Section 13 or 15(d)

Stock-based Compensation (Tables)

v2.4.1.9
Stock-based Compensation (Tables)
3 Months Ended
Mar. 31, 2015
Stock-based Compensation [Abstract]  
Weighted average assumptions
The fair value of the stock options granted was estimated based on the following weighted average assumptions for three months ended March 31, 2015 and 2014:

   
Three Months Ended March 31,
 
   
2015
   
2014
 
Dividend yield
   
0
%
   
0
%
Expected volatility
   
82
%
   
94
%
Risk-free interest rate
   
1.34
%
   
1.73
%
Expected term
 
5.6 years
   
5.6 years
 
Stock option activity
Stock option activity for the three months ended March 31, 2015 was as follows:
 
   
Options
   
Weighted
Average Exercise
Price Per Share
   
Weighted
Average
 Remaining
 Contractual
Life
(in years)
   
Aggregate
 Intrinsic
Value
(in thousands)
 
Outstanding at January 1, 2015
   
7,702,309
   
$
8.15
   
   
 
Granted
   
1,322,528
     
3.82
   
   
 
Exercised
   
(65,815
)
   
1.55
   
   
 
Forfeited, expired or cancelled
   
(620,440
)
   
25.65
   
 
   
 
 
Outstanding at March 31, 2015
   
8,338,582
   
$
6.22
     
7.50
   
$
3,174
 
Vested and expected to vest at March 31, 2015
   
7,928,331
   
$
6.30
     
7.41
   
$
3,131
 
Exercisable at March 31, 2015
   
4,621,508
   
$
7.52
     
6.34
   
$
2,409
 
Unvested RSU activity
Unvested RSU activity for the three months ended March 31, 2015 is summarized below:

   
Number of
Shares
   
Weighted-
Average Grant-
Date Fair Value
 
Unvested balance at January 1, 2015
   
1,953,879
   
$
5.46
 
Granted
   
1,401,652
     
3.83
 
Vested
   
(802,081
)
   
5.04
 
Forfeited
   
(27,138
)
   
5.88
 
Unvested balance at March 31, 2015
   
2,526,312
   
$
4.69
 
Stock-based compensation expense
The following table shows allocated stock-based compensation expense included in the condensed consolidated statements of comprehensive loss for the three months ended March 31, 2015 and 2014 (in thousands):

   
Three Months Ended March 31,
 
   
2015
   
2014
 
Research and development
 
$
2,196
   
$
2,406
 
Selling, general and administrative
   
1,469
     
1,518
 
Total stock-based compensation expense
 
$
3,665
   
$
3,924