XML 27 R45.htm IDEA: XBRL DOCUMENT v3.20.1
Summary of Significant Accounting Policies - Stock-Based Compensation (Details)
1 Months Ended 3 Months Ended 12 Months Ended
Dec. 31, 2019
USD ($)
$ / shares
shares
Jun. 30, 2019
$ / shares
shares
Dec. 31, 2018
USD ($)
$ / shares
shares
Jul. 31, 2019
shares
Apr. 30, 2019
installment
$ / shares
shares
Sep. 30, 2018
USD ($)
shares
Jun. 30, 2018
shares
Jun. 30, 2017
$ / shares
shares
Feb. 28, 2017
$ / shares
shares
Aug. 31, 2016
$ / shares
shares
Jun. 30, 2019
shares
Dec. 31, 2020
$ / shares
shares
Dec. 31, 2019
USD ($)
$ / shares
shares
Dec. 31, 2018
USD ($)
$ / shares
shares
Dec. 31, 2017
USD ($)
$ / shares
shares
Dec. 31, 2016
USD ($)
$ / shares
shares
Mar. 31, 2019
shares
Weighted-average assumptions used to estimate the fair value of each stock option                                  
Dividend (as a percent)                           0.00%      
Volatility (as a percent)                           71.02%      
Risk-free interest rate (as a percent)                           2.73%      
Expected life                           6 years      
Weighted-Average Remaining Life (in years)                                  
Outstanding at the end of the period                         7 years 2 months 4 days 6 years 5 months 15 days 6 years 2 months 1 day 6 years 6 months 18 days  
Vested or unvested and expected to vest at the end of the period                         7 years 1 month 24 days 6 years 5 months 4 days 6 years 1 month 24 days    
Exercisable at the end of the period                         4 years 9 months 14 days 4 years 5 months 12 days 4 years 11 months 19 days    
Aggregate Intrinsic Value                                  
Outstanding at the end of the period | $ $ 10,657,000   $ 5,818,000                   $ 10,657,000 $ 5,818,000 $ 13,513,000 $ 23,000  
Vested or unvested and expected to vest at the end of the period | $ 10,406,000   5,781,000                   10,406,000 5,781,000 13,283,000    
Exercisable at the end of the period | $ $ 3,218,000   $ 3,122,000                   $ 3,218,000 3,122,000 3,733,000    
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]                                  
Aggregate number of common shares reserved for future issuance 25,200,000                       25,200,000        
Proceeds from Stock Options Exercised | $                         $ 2,873,000 4,301,000 650,000    
Total fair value of options vested | $                         13,747,000 7,496,000 10,964,000    
Total intrinsic value of options exercised | $                         556,000 3,787,000 598,000    
Directors' deferred share unit compensation | $                         $ 337,000 $ 361,000 206,000    
ESPP                                  
Weighted-average assumptions used to estimate the fair value of each stock option                                  
Dividend (as a percent)                     0.00%   0.00% 0.00%      
Volatility (as a percent)                     67.30%   131.90% 70.10%      
Risk-free interest rate (as a percent)                     2.51%   2.10% 2.14%      
Expected life                     6 months   6 months 6 months      
Weighted-Average Grant Date Fair Value                                  
Awarded (in dollars per share) | $ / shares $ 1.20 $ 1.63 $ 3.55                            
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]                                  
Aggregate number of common shares reserved for future issuance             1,000,000                    
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent             85.00%                    
Maximum Percentage Of Periodic Payroll Deductions (as a percent)             15.00%                    
Allocated Share-based Compensation Expense | $                         $ 332,000 $ 424,000      
Shares, Issued 33,000 323,000 205,000               323,000   33,000 205,000      
Stock options and restricted stock awards                                  
Stock-Based Compensation                                  
Vesting period                         2 years        
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]                                  
Allocated Share-based Compensation Expense | $                         $ 13,800,000 $ 16,400,000 $ 11,100,000    
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ $ 17,700,000                       17,700,000        
Directors' deferred share unit compensation | $                         $ 337,000 $ 361,000      
Stock options                                  
Stock-Based Compensation                                  
Share-based Compensation Arrangement by Share-based Payment Award     1,500,000                     1,500,000     1,000,000
Weighted-average assumptions used to estimate the fair value of each stock option                                  
Dividend (as a percent)                         0.00%   0.00%    
Volatility (as a percent)                         76.67%   67.34%    
Risk-free interest rate (as a percent)                         2.20%   2.00%    
Expected life                         6 years   6 years    
Weighted-average grant date fair value (in dollars per share) | $ / shares                         $ 2.81 $ 6.70 $ 1.98    
Number of Stock Options                                  
Outstanding at the beginning of the period (in shares)                       13,518,000 15,564,000 11,971,000 13,679,000    
Granted (in shares)                         7,820,000 5,513,000 1,589,000    
Exercised (in shares)                         (794,000) (742,000) (191,000)    
Forfeited/Canceled (in shares)                         (9,072,000) (1,178,000) (3,106,000)    
Outstanding at the end of the period (in shares) 13,518,000   15,564,000                   13,518,000 15,564,000 11,971,000 13,679,000  
Vested or unvested and expected to vest at the end of the period (in shares) 13,321,000   15,386,000                   13,321,000 15,386,000 11,881,000    
Exercisable at the end of the period (in shares) 5,801,000   8,405,000                   5,801,000 8,405,000 7,996,000    
Weighted-Average Exercise Price                                  
Outstanding at the beginning of the period (in dollars per share) | $ / shares                       $ 7.53 $ 10.20 $ 9.92 $ 10.70    
Granted (in dollars per share) | $ / shares                         4.20 10.36 3.21    
Exercised (in dollars per share) | $ / shares                         2.79 4.67 3.42    
Forfeited/Canceled (in dollars per share) | $ / shares                         9.66 11.49 10.33    
Outstanding at the end of the period (in dollars per share) | $ / shares $ 7.53   $ 10.20                   7.53 10.20 9.92 $ 10.70  
Vested or unvested and expected to vest at the end of the period (in dollars per share) | $ / shares 7.57   10.21                   7.57 10.21 9.96    
Exercisable at the end of the period (in dollars per share) | $ / shares $ 10.16   $ 11.47                   $ 10.16 $ 11.47 $ 12.16    
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]                                  
Proceeds from Stock Options Exercised | $                         $ 2,200,000        
Stock options | Chief Executive Officer                                  
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]                                  
Share-based Compensation Arrangement by Share-based Payment Award, Plan Modification, Incremental Compensation Cost | $                           $ 116,000 $ 742,000    
Stock options | Maximum                                  
Stock-Based Compensation                                  
Vesting period                         4 years        
Exercise period                         10 years        
Performance shares                                  
Stock-Based Compensation                                  
Exercise period           5 years                      
Number of equal installments restrictions lapse | $           2                      
Number of Stock Options                                  
Outstanding at the end of the period (in shares)           139,100                      
Number of Restricted Stock Shares                                  
Awarded (in shares)           295,200                      
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]                                  
Allocated Share-based Compensation Expense | $                         $ 0        
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ $ 850,000                       $ 850,000        
Restricted stock                                  
Stock-Based Compensation                                  
Number of equal installments restrictions lapse | installment         3                        
Number of Restricted Stock Shares                                  
Unvested at the beginning of the period (in shares)                       1,297,000 1,816,000 2,319,000 199,000    
Awarded (in shares)                         631,000   2,253,000    
Vested (in shares)                         (504,000) (503,000) (25,000)    
Forfeited (in shares)       (448,380)                 (646,000)   (108,000)    
Unvested at the end of the period (in shares) 1,297,000   1,816,000                   1,297,000 1,816,000 2,319,000 199,000  
Weighted-Average Grant Date Fair Value                                  
Unvested at the beginning of the period (in dollars per share) | $ / shares                       $ 2.97 $ 2.87 $ 2.82 $ 4.41    
Awarded (in dollars per share) | $ / shares                         2.55   2.71    
Vested (in dollars per share) | $ / shares                         2.64 2.64 5.87    
Forfeited (in dollars per share) | $ / shares                         2.54   2.68    
Unvested at the end of the period (in dollars per share) | $ / shares $ 2.97   $ 2.87                   $ 2.97 $ 2.87 $ 2.82 $ 4.41  
Restricted stock | Officers                                  
Number of Restricted Stock Shares                                  
Awarded (in shares)         106,000     239,000 529,830 117,800              
Weighted-Average Grant Date Fair Value                                  
Awarded (in dollars per share) | $ / shares         $ 2.82     $ 4.71 $ 2.47 $ 3.15              
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]                                  
Allocated Share-based Compensation Expense | $                         $ 0        
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ $ 142,000                       $ 142,000        
Immunogen Inc Restated Stock Option Plan                                  
Stock-Based Compensation                                  
Common stock authorized for issuance (in shares) 19,500,000                       19,500,000        
2018 Plan                                  
Stock-Based Compensation                                  
Common stock authorized for issuance (in shares) 7,500,000                       7,500,000        
2018 Plan | Stock options                                  
Weighted-average assumptions used to estimate the fair value of each stock option                                  
Number of group of awards for which expected term is calculated for and applied | $                         1        
Number of Stock Options                                  
Exercised (in shares)                         (794,000)        
Forecast | Restricted stock                                  
Number of Restricted Stock Shares                                  
Forfeited (in shares)                       (57,400)