Stockholders' Equity

3 Months Ended

Mar. 31, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Sale of Common Stock

In February 2015, the Company completed a follow-on offering whereby it issued an aggregate 2,587,500 shares of common stock at $20.00 per share. Proceeds from the follow-on offering, net of underwriting discounts, commissions and offering expenses, were $48.4 million.

Share-based Compensation

Total share-based compensation expense by operating statement classification is presented below (in thousands):



	Three Months Ended March 31,
	2015		2014
Research and development expense	$	808	$	488
General and administrative expense	1,508		458
	$	2,316	$	946

During the three months ended March 31, 2015 and 2014, 22,166 and 23,307 shares were issued pursuant to stock option exercises generating net proceeds of $0.3 million for each period.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

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