STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2015

STOCK-BASED COMPENSATION

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs

The following table summarizes stock-based compensation expense included in our consolidated statements of earnings:

(in thousands)	Years ended December 31,
	2015		2014		2013
Cost of sales	$	82	$	104	$	-
Research and development	$	109	$	69	$	-
Selling, general, and administrative	$	3,665	$	3,250	$	36

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

For 2015, 2014, and 2013, the fair value of each option grant was estimated on the date of grant using the Black-Scholes option-pricing model, using the following weighted average assumptions:

	Years Ended December 31,
	2015		2014		2013
Expected option life (years)		5.50 - 6.25		5.39 - 6.25		6.25
Risk-free interest rate		1.31% - 1.82%		1.55% - 2.03%		1.72%
Expected stock price volatility		47.9% - 50.5%		50.6% - 55.1%		55.0%
Dividend yield		—		—		—

Schedule of Share-based Compansation, Stock Option And Restricted Stock, Activity

A summary of stock option activity under the Plan during the years ended December 31, 2015, 2014, and 2013 is presented below:

							Weighted
					Weighted		Average
			Weighted		Average		Remaining
(in thousands, except per share	Option		Average		Grant-date		Term		Aggregate
and remaining term data)	Shares		Exercise Price		Fair Value		(years)		Intrinsic Value
Outstanding December 31, 2012		-	$	-				-	$	-
Net BioSante stock options assumed		99		59.59
Granted		21		6.36	$	3.40
Exercised		-		-						-
Forfeited or expired		-		-
Outstanding December 31, 2013		120	$	50.35				2.4	$	81
Granted		120		31.59	$	16.84
Options previously granted, approved by shareholders		325		6.39
Exercised		(43)		19.45						638
Forfeited		(4)		6.36
Expired		(60)		73.96
Outstanding December 31, 2014		458	$	14.44				8.7	$	19,472
Granted		138		62.07	$	30.08
Exercised		(89)		9.24						3,937
Forfeited		(33)		11.81
Expired		-		-
Outstanding December 31, 2015		474	$	29.40				8.2	$	10,136
Exercisable at December 31, 2015		101	$	17.97				7.4	$	3,069
Vested or expected to vest at December 31, 2015		464	$	29.06				8.2	$	10,046

Nonvested Restricted Stock Shares Activity

A summary of RSA activity under the Plan during the years ended December 31, 2015, 2014, and 2013 is presented below:

			Weighted
			Average Grant		Weighted Average
(in thousands, except per share			Date Fair		Remaining Term
and remaining term data)	Shares		Value		(years)
Unvested at December 31, 2012		-	$	-
Granted		50		10.20
Vested		-		-
Forfeited		-		-
Unvested at December 31, 2013		50	$	10.20		2.8
Granted		30		29.61
Vested		(17)		10.20
Forfeited		-		-
Unvested at December 31, 2014		63	$	19.34		2.6
Granted		28		67.26
Vested		(23)		15.82
Forfeited		(5)		19.41
Unvested at December 31, 2015		63	$	42.72		2.2