Employee Stock Benefit Plans (Tables)

3 Months Ended

Mar. 31, 2017

Table Text Blocks

Share-based compensation expense reflected in the condensed consolidated statements of operations

The following table summarizes share-based compensation expense reflected in the condensed consolidated statements of operations for the three months ended March 31, 2017 and 2016 (in thousands):

	Three Months Ended
	March 31,
	2017		2016
Research and development	$	2,625	$	2,499
Selling, general and administrative		4,654		4,307
	$	7,279	$	6,806

Schedule of weighted-average assumptions used to estimate the fair value of the stock options using the Black-Scholes option-pricing model

	Three Months Ended
	March 31,
	2017		2016
Expected volatility	46.0	%	46.0	%
Expected term (in years)	6.0		6.0
Risk-free interest rate	2.0	%	1.5	%
Expected dividend yield	—	%	—	%

Summary of stock option activity

		Weighted-
		Average
	Number of Shares	Fair Value
	(in thousands)
Outstanding at December 31, 2016	20,455	$	11.92
Granted	2,859		16.64
Exercised	(854)		8.54
Cancelled	(186)		12.54
Outstanding at March 31, 2017	22,274	$	12.65

Summary of RSU activity

		Weighted-
		Average
	Number	Grant Date
	of Shares	Fair Value
	(in thousands)
Unvested as of December 31, 2016	1,299	$	12.53
Granted	1,195	$	16.71
Vested	(210)	$	12.85
Forfeited	(29)	$	13.80
Unvested as of March 31, 2017	2,255	$	14.70