SHARE BASED COMPENSATION

9 Months Ended

Sep. 30, 2020

Equity [Abstract]

SHARE BASED COMPENSATION

SHARE-BASED COMPENSATION

Restricted Stock Units

Service Based Restricted Stock Units

The following table summarizes the Company’s service based restricted stock unit activity during the nine months ended September 30, 2020:

	Number of Restricted Stock Units	Weighted Average Grant Date Fair Value
Unvested December 31, 2019	763,728	$	19.64
Granted	661,688
Vested	(185,202)
Forfeited/canceled	(79,491)
Unvested September 30, 2020	1,160,723	$	17.19

At September 30, 2020, unamortized stock compensation for service based restricted stock units was $15.1 million, with a weighted-average recognition period of 2.4 years.

Performance Based Restricted Stock Units

The following table summarizes the Company’s performance based restricted stock unit activity during the nine months ended September 30, 2020:

	Number of Restricted Stock Units	Weighted Average Grant Date Fair Value
Unvested December 31, 2019	233,500	$	20.90
Granted	150,000
Vested	(73,250)
Forfeited/canceled	(110,250)
Unvested September 30, 2020	200,000	$	16.67

At September 30, 2020, unamortized stock compensation for performance based restricted stock units was $1.2 million, with a weighted-average recognition period of 1.1 years.

Stock Options

The following table summarizes stock option activity during the nine months ended September 30, 2020:

	Shares Underlying Options	Weighted Average Exercise Price	Weighted Average Remaining Contractual Life (years)	Aggregate Intrinsic Value (in thousands)
Outstanding at December 31, 2019	7,371,733	$19.52	6.63	$	4,906
Granted	1,497,375
Exercised	(103,270)
Forfeited/canceled	(394,340)
Outstanding at September 30, 2020	8,371,498	$18.95	6.58	$	17,968

At September 30, 2020, unamortized stock compensation for stock options was $28.9 million, with a weighted-average recognition period of 2.6 years.

At September 30, 2020, outstanding options to purchase 5.4 million shares of common stock were exercisable with a weighted-average exercise price per share of $19.34.

Share-Based Compensation

The following table sets forth total share-based compensation for the three and nine months ended September 30, 2020 and 2019 (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Research and development	$	2,510	$	1,735	$	6,968	$	5,301
Selling, general & administrative	2,888		2,605		10,294		11,307
Total	$	5,398	$	4,340	$	17,262	$	16,608