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Stock Award Plans (Tables)
 12 Months Ended
Dec. 31, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Stock Based Award Plans

The following table summarizes information about the Company’s stock-based award plans as of December 31, 2017:

 

 

 

Outstanding

Options

 

 

Outstanding

Restricted

Stock Units

 

 

Shares Available

for Future

Issuance

 

2004 Equity Incentive Plan

 

 

1,231,740

 

 

 

—

 

 

 

—

 

2013 Equity Incentive Plan

 

 

5,795,035

 

 

 

1,135,216

 

 

 

1,509,343

 

2004 Non-Employee Directors’ Stock Option Plan

 

 

62,665

 

 

 

—

 

 

 

—

 

Total

 

 

7,089,440

 

 

 

1,135,216

 

 

 

1,509,343

 

 
Stock Based Compensation Expense Recognized in Accompanying Consolidated Statements of Operations

Total stock-based compensation expense recognized in the accompanying consolidated statements of operations is as follows (in thousands):

 

 

 

Year Ended December 31,

 

 

 

2017

 

 

2016

 

 

2015

 

Employee-related

 

$

4,847

 

 

$

5,135

 

 

$

8,407

 

Consultant-related

 

 

—

 

 

 

—

 

 

 

318

 

Total

 

$

4,847

 

 

$

5,135

 

 

$

8,725

 

 
Stock Based Compensation Expense Recognized in Accompanying Consolidated Statements of Operations by Category

Total stock-based compensation expense recognized in the accompanying consolidated statements of operations is included in the following categories (in thousands):

 

 

 

Year Ended December 31,

 

 

 

2017

 

 

2016

 

 

2015

 

Cost of goods sold

 

$

460

 

 

$

695

 

 

$

—

 

Research and development

 

 

1,010

 

 

 

1,309

 

 

 

3,029

 

Selling, general and administrative

 

 

3,377

 

 

 

3,131

 

 

 

5,696

 

Total

 

$

4,847

 

 

$

5,135

 

 

$

8,725

 

 
Assumptions Used to Calculate Fair Value of Employee Stock Options

The Company calculated the fair value of employee stock options granted during the years ended December 31, 2017, 2016 and 2015 using the following assumptions:

 

 

 

Year Ended December 31,

 

 

 

2017

 

 

2016

 

 

2015

 

Risk-free interest rate

 

1.83% — 2.13%

 

 

1.18% — 1.80%

 

 

1.61% —1.86%

 

Expected lives

 

5.41 — 5.78 years

 

 

5.13 — 5.82 years

 

 

5.79 — 5.86 years

 

Volatility

 

83.32% — 90.39%

 

 

77.57% — 82.75%

 

 

69.76% — 71.84%

 

Dividends

 

 

—

 

 

 

—

 

 

 

—

 

 
Summary of Stock Options Outstanding

The following table summarizes information about stock options outstanding:

 

 

 

Number of

Shares

 

 

Weighted

Average Exercise

Price per Share

 

 

Aggregate

Intrinsic

Value ($000)

 

Outstanding at January 1, 2017

 

 

5,530,256

 

 

$

16.10

 

 

 

 

 

Granted

 

 

3,335,385

 

 

 

1.60

 

 

 

 

 

Exercised

 

 

(5,300

)

 

 

4.55

 

 

 

 

 

Forfeited

 

 

(598,204

)

 

 

3.17

 

 

 

 

 

Expired

 

 

(1,172,697

)

 

 

22.21

 

 

 

 

 

Outstanding at December 31, 2017

 

 

7,089,440

 

 

$

9.33

 

 

$

2,484

 

Vested and expected to vest at December 31, 2017

 

 

6,735,675

 

 

$

9.70

 

 

$

2,262

 

Exercisable at December 31, 2017

 

 

2,813,227

 

 

$

19.52

 

 

$

61

 

 
Summary of Restricted Stock Unit Activity

A summary of restricted stock unit activity for the year ended December 31, 2017 is presented below:

 

 

 

Number of

Shares

 

 

Weighted

Average

Grant Date

Fair Value

per Share

 

Outstanding at January 1, 2017

 

 

737,966

 

 

$

8.40

 

Granted

 

 

669,091

 

 

 

1.36

 

Vested

 

 

(192,361

)

 

 

10.02

 

Forfeited

 

 

(79,480

)

 

 

5.89

 

Outstanding at December 31, 2017

 

 

1,135,216

 

 

$

4.08