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Accounting for Shared-based Payments (Tables)
 6 Months Ended
Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of stock-based compensation expense
Stock-based compensation has been recognized in operating results as follows:
 
 
Three Months Ended
June 30,
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
Six Months Ended
June 30,
($ in thousands)
 
2017
 
2016
 
2017
 
2016
Included in research and development
 
$
(80
)
 
$
784

 
1,793

 
1,594

Included in selling, general and administrative
 
13,378

 
1,923

 
14,402

 
2,315

Total stock-based compensation expense
 
$
13,298

 
$
2,707

 
$
16,195

 
$
3,909
Schedule of weighted-average assumptions used to estimate fair value of stock option awards using the Black-Scholes option valuation model
The estimated fair value of stock option awards was determined on the date of grant using the Black-Scholes option valuation model with the following weighted-average assumptions during the periods indicated.
 
Six Months Ended
June 30, 2017
 
Six Months Ended
June 30, 2016
Risk-free interest rate
1.85%-2.24%

 
1.22%-1.49%

Dividend yield
—

 
—

Expected volatility
66%-73%

 
50
%
Expected term (in years)
6 years

 
6 years
Summary of stock option activity and of changes in stock options outstanding under the Plan
A summary of stock option activity and of changes in stock options outstanding under the Plan is presented below:
 
Number of
Options
 
Exercise Price
Per Share
 
Weighted Average
Exercise Price
Per Share
 
Intrinsic
Value
(in thousands)
 
Weighted Average
Remaining
Contractual Term
Balance outstanding, December 31, 2016
27,867,171

 
$0.44-9.12
 
$
3.78

 
$
65,618

 
7.1 years
Granted
2,055,500

 
$3.63-6.77
 
4.98

 
—

 

Exercised (1)
(99,978
)
 
$0.50-5.34
 
3.47

 
226,757

 

Forfeited
(940,625
)
 
$2.83-7.91
 
4.52

 
—

 

Balance outstanding, June 30, 2017
28,882,068

 
$0.44-9.12
 
$
3.90

 
$
27,677

 
6.8 years
 
 
 
 
 
 
 
 
 
 
Exercisable, at June 30, 2017 (2)
19,238,509

 
$0.44-9.12
 
$
3.49

 
$
23,650

 
5.7 years
__________________________
(1)
The Company received proceeds of approximately $0.3 million from the exercise of stock options during the three months ended June 30, 2017.
(2)
Includes 2,159,500 change of control stock options that were immediately vested during June 2017.