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Employee Stock Ownership Plans (Tables)
 12 Months Ended
Dec. 31, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Stock Based Compensation Included in Cost of Sales or Operating Expenses

Stock-based compensation is included in cost of sales or operating expenses, as applicable, and consists of the following:

 

 

 

Year Ended December 31,

 

 

 

2016

 

 

2015

 

 

2014

 

 

 

(In thousands)

 

Cost of product revenue

 

$

796

 

 

$

824

 

 

$

1,121

 

Research and development expenses

 

 

594

 

 

 

666

 

 

 

1,046

 

Sales and marketing expenses

 

 

1,066

 

 

 

1,012

 

 

 

1,390

 

General and administrative expenses

 

 

2,857

 

 

 

2,911

 

 

 

5,224

 

Total stock-based compensation

 

$

5,313

 

 

$

5,413

 

 

$

8,781

 

 
Summary of Fair Value of Option Awards Estimated by Use of Black-Scholes Option Pricing Model

The following information relates to the fair value of the option awards estimated by use of the Black-Scholes option pricing model:

 

 

 

Year Ended December 31,

 

 

 

2016

 

 

2015

 

 

2014

 

 

 

(In thousands)

 

Weighted average assumptions:

 

 

 

 

 

 

 

 

 

 

 

 

Expected term (in years)

 

 

5.86

 

 

 

6.02

 

 

 

6.17

 

Expected volatility

 

 

53.56

%

 

 

57.95

%

 

 

50.09

%

Risk free rate

 

 

1.36

%

 

 

1.79

%

 

 

1.94

%

Expected dividend yield

 

 

0.00

%

 

 

0.00

%

 

 

0.00

%

Weighted average fair value:

 

 

 

 

 

 

 

 

 

 

 

 

Grant-date fair value of options granted

 

$

2.16

 

 

$

3.82

 

 

$

5.37

 

Grant-date fair value of options vested

 

$

7.58

 

 

$

11.89

 

 

$

97.33

 

Aggregate intrinsic value of options exercised

 

$

—

 

 

$

—

 

 

$

4,816.50

 

 
Summary of Stock Option Outstanding

The following table summarizes information about stock options outstanding:

 

 

 

Number of

Shares

 

 

Weighted

Average

Grant Date

Fair Value

Per Share

 

 

Weighted

Average

Exercise

Price

Per Share

 

 

Weighted

Average

Remaining

Contractual

Term

(Years)

 

 

Aggregate

Intrinsic

Value

 

 

 

($ in thousands, except share and per share data)

 

Options outstanding at December 31, 2015

 

 

1,702,337

 

 

$

9.60

 

 

$

13.47

 

 

 

9.08

 

 

$

6,152

 

Granted

 

 

382,033

 

 

$

2.16

 

 

$

4.30

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(20,796

)

 

$

6.62

 

 

$

10.58

 

 

 

 

 

 

 

 

 

Exercised

 

 

—

 

 

$

—

 

 

$

—

 

 

 

 

 

 

$

—

 

Options outstanding at December 31, 2016

 

 

2,063,574

 

 

$

8.26

 

 

$

11.80

 

 

 

8.30

 

 

$

36,326

 

Exercisable at December 31, 2016

 

 

707,260

 

 

$

17.10

 

 

$

19.81

 

 

 

7.68

 

 

$

—

 

Expected to vest at December 31, 2016

 

 

1,190,710

 

 

$

3.58

 

 

$

6.99

 

 

 

8.67

 

 

$

31,473

 

 
Summary of Grants of RSUs

Information related to grants of RSUs during 2016 is as follows:

 

 

 

Restricted

Stock

Units

 

 

Weighted

Average

Grant Date

Fair Value

 

Balance at December 31, 2015

 

 

417,126

 

 

$

9.01

 

Granted

 

 

429,803

 

 

 

4.04

 

Vested

 

 

(155,707

)

 

 

9.20

 

Forfeited

 

 

(9,137

)

 

 

9.37

 

Balance at December 31, 2016

 

 

682,085

 

 

$

5.83