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Stock-based Compensation (Tables)
 9 Months Ended
Sep. 30, 2013
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Schedule of Stock Options Activity
The Company granted stock options to employees to purchase 2,009,551 and 230,200 shares of common stock for the nine months ended September 30, 2013 and 2012, respectively.

 

    NUMBER OF
SHARES		     WEIGHTED AVERAGE
EXERCISE PRICE		     AGGREGATE
INTRINSIC
VALUE		  
                (000’S)  

Options outstanding at December 31, 2012

     1,554,200      $ 1.3890      $ 2,348   

Granted

     2,009,551        3.1121     

Exercised

     (3,195 )      0.3722     

Cancelled

     (370,896 )      1.3844     
 

 

 

    

 

 

    

 

 

  

Options outstanding at September 30, 2013

     3,189,660      $ 2.1634      $ 24,996   
 

 

 

    

 

 

    

 

 

  

Options exercisable at September 30, 2013

     975,669      $ 0.5911      $ 9,180   
 

 

 

    

 

 

    

 

 

  
Stock-Based Compensation Expense for Options Granted and Restricted Stock as Reflected in the Statement of Operations

Stock-based compensation expense for options granted and restricted stock are reflected in the statement of operations as follows:

 

     Three Months Ended
September 30,		      Nine Months Ended
September 30,		     

Period From

Inception

(June 22, 2005) to

September 30,

  
(in thousands)    2013      2012      2013      2012      2013  

Research and development

    $ 62       $ 22       $ 105       $ 66       $ 284   

General and administrative

      1,068         86         1,426         226         2,277   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Total(1)

    $ 1,130       $ 108       $ 1,531       $ 292       $ 2,561   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

 

(1) For the three and nine months ended September 30, 2013, stock-based compensation expense includes $0.9 million of expense related to a stock-based compensation charge on the August and September 2013 option grants based on the assessment of certain assumptions utilized in determining the fair value of common stock in the context of the Company’s initial public offering (Note 2).