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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Schedule of Assumptions Used to Calculate Fair Value of Options Granted to Employees

The fair value of stock options granted to employees during the years ended December 31, 2016, 2015 and 2014 was estimated at the date of grant using the following assumptions:

 

 

 

Years Ended December 31,

 

 

2016

 

2015

 

2014

Risk-free interest rate

 

1.1 – 2.0%

 

1.5 – 1.8%

 

1.6 – 2.0%

Expected dividend yield

 

0%

 

0%

 

0%

Expected term

 

5.0 – 5.8 years

 

5.0 – 5.9 years

 

5.0 – 5.9 years

Expected volatility

 

67 – 69%

 

66 – 67%

 

64 – 72%

 

Schedule of Recognized Stock-Based Compensation Expense

The Company recognized stock-based compensation expense during the years ended December 31, 2016, 2015 and 2014 as follows:

 

 

 

Years Ended December 31,

 

(in thousands)

 

2016

 

 

2015

 

 

2014

 

Employee awards:

 

 

 

 

 

 

 

 

 

 

 

 

Research and development expense

 

$

6,503

 

 

$

8,271

 

 

$

6,864

 

Selling, general and administrative expense

 

 

7,331

 

 

 

7,022

 

 

 

6,065

 

Restructuring expense

 

 

1,371

 

 

 

 

 

 

 

Stock-based compensation expense for employee awards

 

 

15,205

 

 

 

15,293

 

 

 

12,929

 

Stock-based compensation expense for non-employee awards

 

 

1

 

 

 

58

 

 

 

268

 

Less: stock-based compensation expense capitalized to

   inventory

 

 

(341

)

 

 

 

 

 

 

Total stock-based compensation expense

 

$

14,865

 

 

$

15,351

 

 

$

13,197

 

 

Summary of Stock Option Activity

The following table summarizes stock option activity during the year ended December 31, 2016:

 

(in thousands, except per share amounts)

 

Options

 

 

Weighted-Average

Exercise Price

 

 

Weighted-Average

Remaining Contractual Term

(in years)

 

 

Aggregate

Intrinsic

Value

 

Outstanding at December 31, 2015

 

 

19,211

 

 

$

5.72

 

 

 

6.24

 

 

$

47,963

 

Granted

 

 

4,258

 

 

$

5.57

 

 

 

 

 

 

 

 

 

Exercised

 

 

(1,958

)

 

$

3.29

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(2,487

)

 

$

7.04

 

 

 

 

 

 

 

 

 

Outstanding at December 31, 2016

 

 

19,024

 

 

$

5.77

 

 

 

5.97

 

 

$

7,564

 

Vested and expected to vest at December 31,

   2016

 

 

18,794

 

 

$

5.76

 

 

 

5.93

 

 

$

7,564

 

Exercisable at December 31, 2016

 

 

14,968

 

 

$

5.49

 

 

 

5.24

 

 

$

7,564