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Stock Based Compensation (Tables)
3 Months Ended
Mar. 31, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Stock Option Activity

The following table summarizes stock option activity under our 2013 Equity Incentive Plan (the “2013 Plan”) and an Inducement Plan, and related information during the three months ended March 31, 2018:

 

 

 

Shares

 

 

 

 

 

 

 

Subject to

 

 

Weighted-

 

 

 

Outstanding

 

 

Average Exercise

 

 

 

Options

 

 

Price Per Share

 

Balance at December 31, 2017

 

 

6,514,538

 

 

$

31.36

 

Options granted

 

 

1,144,976

 

 

 

47.83

 

Options exercised

 

 

(185,664

)

 

 

22.30

 

Options canceled

 

 

(180,117

)

 

 

37.37

 

Balance at March 31, 2018

 

 

7,293,733

 

 

$

34.03

 

 

Summary of PSO Activities

The following table summarizes PSO activities under our 2013 Plan and related information during the three months ended March 31, 2018:

 

 

 

Shares

 

 

 

 

 

 

 

Subject to

 

 

Weighted-

 

 

 

Outstanding

 

 

Average Exercise

 

 

 

PSOs

 

 

Price Per Share

 

Balance at December 31, 2017

 

 

164,783

 

 

$

23.76

 

Options granted

 

 

 

 

 

 

Options exercised

 

 

(1,302

)

 

 

23.76

 

Options canceled

 

 

 

 

 

 

Balance at March 31, 2018

 

 

163,481

 

 

$

23.76

 

 

Summary of RSU Activity

The following table summarizes RSU activity under our 2013 Plan and Inducement Plan, and related information during the three months ended March 31, 2018:

 

 

 

Shares

 

 

 

 

 

 

 

Subject to

 

 

Weighted-

 

 

 

Outstanding

 

 

Average Grant Date

 

 

 

RSUs

 

 

Fair Value Per Share

 

Balance at December 31, 2017

 

 

600,334

 

 

$

27.87

 

RSUs granted

 

 

359,057

 

 

 

48.78

 

RSUs released

 

 

(279,555

)

 

 

28.49

 

RSUs canceled

 

 

(33,711

)

 

 

34.11

 

Balance at March 31, 2018

 

 

646,125

 

 

$

38.90

 

 

Summary of PSU Activity

 

 

Shares

 

 

 

 

 

 

 

Subject to

 

 

Weighted-

 

 

 

Outstanding

 

 

Average Grant Date

 

 

 

PSUs

 

 

Fair Value Per Share

 

Balance at December 31, 2017

 

 

304,754

 

 

$

25.34

 

PSUs granted

 

 

102,600

 

 

 

32.66

 

PSUs released

 

 

(6,004

)

 

 

49.83

 

PSUs canceled

 

 

(8,125

)

 

 

25.54

 

Balance at March 31, 2018

 

 

393,225

 

 

$

26.87

 

 

Classification of Stock-Based Compensation Expense

The table below sets forth the functional classification of stock-based compensation expense for the periods presented (in thousands):  

 

 

 

Three Months Ended March 31,

 

 

 

2018

 

 

2017

 

Research and development

 

$

4,452

 

 

$

4,150

 

Selling, general and administrative

 

 

6,528

 

 

 

4,884

 

Total stock-based compensation

 

$

10,980

 

 

$

9,034