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Stock-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Schedule of Relevant Data Used to Estimate Fair Value of Stock Option Grants

The relevant data used to determine the value of the stock option grants for the three and six months ended June 30, 2018 and 2017 are as follows:

 

 

 

Three months ended

 

 

Six months ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

Risk-free interest rates

 

2.67-2.93%

 

 

1.97-2.16%

 

 

2.67-2.93%

 

 

1.97-2.29%

 

Expected dividend yield

 

0.00%

 

 

0.00%

 

 

0.00%

 

 

0.00%

 

Expected term (in years)

 

 

6.0

 

 

 

6.0

 

 

 

6.0

 

 

 

6.0

 

Expected volatility

 

69.8-70.4%

 

 

69.9-72.8%

 

 

69.8-71.5%

 

 

69.9-72.8%

 

 
Summary of Stock Option Activity

The following table summarizes stock option activity for the six months ended June 30, 2018:

 

(In thousands, except per share amounts)

 

Shares Issuable

Under Options

 

 

Weighted

Average

Exercise Price

Per Share

 

Outstanding as of December 31, 2017

 

 

3,800

 

 

$

17.75

 

Granted

 

 

980

 

 

 

23.77

 

Exercised

 

 

(135

)

 

 

13.39

 

Cancelled

 

 

(111

)

 

 

20.14

 

Outstanding as of June 30, 2018

 

 

4,534

 

 

$

19.13

 

Options vested and expected to vest at June 30, 2018

 

 

4,534

 

 

$

19.13

 

Options exercisable at June 30, 2018

 

 

1,990

 

 

$

16.06

 

 
Summary of of RSU Activity

The following table summarizes the RSU activity for the six months ended June 30, 2018:

 

(In thousands, except per share amounts)

 

Number of

Shares

 

 

Weighted

Average Grant

Date Fair

Value Per

Share

 

Nonvested balance as of December 31, 2017

 

 

82

 

 

$

16.43

 

Granted

 

 

239

 

 

 

22.90

 

Cancelled

 

 

(10

)

 

 

22.31

 

Vested/Released

 

 

(11

)

 

 

18.20

 

Nonvested Balance as of June 30, 2018

 

 

300

 

 

$

21.74

 

 
Stock-Based Compensation Expense Related to Stock Options, and RSUs and Shares Purchased Under Employee Stock Purchase Plan

The Company recorded stock-based compensation expense related to stock options and RSUs and shares purchased under the Employee Stock Purchase Plan for the three and six months ended June 30, 2018 and 2017 as follows:

 

 

 

For the three months

ended June 30,

 

 

For the six months

ended June 30,

 

(In thousands)

 

2018

 

 

2017

 

 

2018

 

 

2017

 

Research and development

 

$

1,137

 

 

$

923

 

 

$

2,287

 

 

$

1,802

 

Selling, general and administrative

 

 

2,847

 

 

 

1,440

 

 

 

5,354

 

 

 

2,939

 

Total

 

$

3,984

 

 

$

2,363

 

 

$

7,641

 

 

$

4,741