Share-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2017

Share-Based Compensation

Share-Based Compensation Expense Recognized in Accompanying Statements of Operations

Share-based compensation expense for all equity based programs, including stock options, restricted stock units and the employee stock purchase plan, for the three months ended March 31, 2017 and 2016 was recognized in the accompanying Consolidated Statements of Operations as follows (in thousands):

	Three months ended March 31,
	2017		2016
Research and development	$	4,167	$	7,309
Selling, general and administrative		4,780		3,656
Total share-based compensation expense	$	8,947	$	10,965

Summary of Stock Options Activity

				Weighted
		Weighted		Average	Aggregate
		Average		Remaining	Intrinsic
	Number of	Exercise		Contractual	Value
	Options	Price		Term (Years)	(Thousands)
Outstanding at December 31, 2016	5,520,482	$	42.00
Granted	446,200		64.43
Exercised	(252,912)		22.44
Forfeited	(128,180)		38.10
Outstanding at March 31, 2017	5,585,590	$	44.77	7.6	$	134,859
Vested and expected to vest at March 31, 2017	5,212,054	$	44.76	7.5	$	126,378
Vested and exercisable at March 31, 2017	2,948,774	$	44.46	6.4	$	73,489

Schedule of Share-Based Compensation Arrangements by Share-Based Payment Award

The following table summarizes information about our stock options as of and for the three months ended March 31, 2017 and 2016 (in thousands):

	Three months ended March 31,
	2017		2016
Weighted-average grant date fair value per share	$	47.71	$	15.24
Intrinsic value of options exercised	$	9,525	$	46
Cash received from stock option exercises	$	5,674	$	55

Summary of activity related to our unvested RSUs

		Weighted
		Average
	Number of	Grant Date
	Units	Fair Value
Unvested at December 31, 2016	562,458	$	24.70
Granted	210,484		61.42
Vested	(42,754)		19.37
Forfeited	(20,991)		20.81
Unvested as of March 31, 2017	709,197	$	36.03
Expected to vest after March 31, 2017	592,152	$	35.53