Annual report pursuant to Section 13 and 15(d)

STOCK BASED COMPENSATION (Tables)

v3.3.1.900
STOCK BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2015
STOCK BASED COMPENSATION  
Schedule of stock-based compensation expense related to all of the entity's share-based awards

Total stock‑based compensation expense related to all of our stock‑based awards was as follows (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2015

    

2014

    

2013

 

Research and development

 

 

$

4,100

 

$

4,674

 

$

3,930

 

General and administrative

 

 

 

3,303

 

 

5,113

 

 

2,997

 

Restructuring charges

 

 

 

 —

 

 

 —

 

 

239

 

Total stock-based compensation expense

 

 

$

7,403

 

$

9,787

 

$

7,166

 

 

Summary of weighted-average assumptions relating to options granted pursuant to equity incentive plans

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended

 

 

 

 

December 31,

 

 

    

    

2015

    

2014

    

2013

 

Risk-free interest rate

 

 

1.8

%  

2.2

%  

1.1

%

Expected term (in years)

 

 

6.5

 

6.5

 

5.4

 

Dividend yield

 

 

0.0

%  

0.0

%  

0.0

%

Expected volatility

 

 

65.0

%  

74.4

%  

72.2

%

 

Schedule of option activity under equity incentive plans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

 

    

 

    

 

 

    

Weighted-

    

 

 

 

 

 

 

 

 

 

 

 

 

Average

 

 

 

 

 

 

 

 

 

 

 

 

 

Remaining

 

 

 

 

 

 

Shares Available

 

Number of Shares

 

Weighted-Average

 

Contractual Term

 

Aggregate

 

 

 

For Grant

 

Underlying Options

 

Exercise Price

 

(in years)

 

Intrinsic Value

 

Outstanding at January 1, 2013

 

3,198,586

 

13,604,377

 

$

11.52

 

 

 

 

 

 

Authorized for grant

 

7,775,000

 

 

 

 

 

 

 

 

 

 

Granted

 

(3,140,956)

 

3,140,956

 

$

5.46

 

 

 

 

 

 

Exercised

 

 

 

$

 

 

 

 

 

 

Cancelled

 

1,213,131

 

(1,213,131)

 

$

8.26

 

 

 

 

 

 

Outstanding at December 31, 2013

 

9,045,761

 

15,532,202

 

$

10.55

 

 

 

 

 

 

Authorized for grant

 

 —

 

 

 

 

 

 

 

 

 

 

Granted

 

(3,467,120)

 

3,467,120

 

$

3.39

 

 

 

 

 

 

Exercised

 

 

(11,219)

 

$

3.44

 

 

 

 

 

 

Cancelled

 

2,017,430

 

(2,017,430)

 

$

10.75

 

 

 

 

 

 

Outstanding at December 31, 2014

 

7,596,071

 

16,970,673

 

$

9.07

 

 

 

 

 

 

Authorized for grant

 

 —

 

 

 

 

 

 

 

 

 

 

Granted

 

(3,875,170)

 

3,875,170

 

$

2.28

 

 

 

 

 

 

Exercised

 

 

(214,295)

 

$

2.75

 

 

 

 

 

 

Cancelled

 

1,525,076

 

(1,525,076)

 

$

17.56

 

 

 

 

 

 

Outstanding at December 31, 2015

 

5,245,977

 

19,106,472

 

$

7.08

 

5.85

 

$

3,053,499

 

Vested and expected to vest at December 31, 2015

 

 

 

18,958,691

 

$

7.12

 

 

 

 

 

 

Exercisable at December 31, 2015

 

 

 

15,089,131

 

$

8.24

 

5.08

 

$

865,450

 

Exercisable at December 31, 2014

 

 

 

14,243,893

 

$

10.09

 

 

 

 

 

 

Exercisable at December 31, 2013

 

 

 

13,246,612

 

$

11.44

 

 

 

 

 

 

 

Schedule of stock options by exercise price

Details of our stock options by exercise price are as follows as of December 31, 2015:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options Outstanding

 

Options Exercisable

 

 

    

Number of

    

Weighted-Average

    

 

 

    

 

    

 

 

 

 

 

Outstanding

 

Remaining

 

Weighted-Average

 

Number of

 

Weighted-Average

 

Exercise Price

 

Options

 

Contractual Life (in years)

 

Exercise Price

 

Options

 

Exercise Price

 

$1.68 - $2.14

 

3,398,170

 

8.99

 

$

2.14

 

965,799

 

$

2.14

 

$2.72 - $3.59

 

3,818,711

 

7.99

 

 

3.43

 

2,419,487

 

 

3.40

 

$3.64 - $6.51

 

3,613,435

 

5.53

 

 

6.31

 

3,432,883

 

 

6.37

 

$6.55 - $7.40

 

2,490,644

 

4.24

 

 

6.81

 

2,490,644

 

 

6.81

 

$7.53 - $9.62

 

3,392,461

 

4.83

 

 

8.70

 

3,387,320

 

 

8.70

 

$9.74 - $26.45

 

2,393,051

 

1.58

 

 

19.11

 

2,392,999

 

 

19.11

 

$1.68 - $26.45

 

19,106,472

 

5.85

 

 

7.08

 

15,089,132

 

 

8.24

 

 

Summary of weighted-average assumptions used to calculate fair value of purchase rights granted under Employee Stock Purchase Plan

 

 

 

 

 

 

 

 

 

 

Year Ended

 

 

 

December 31,

 

 

    

2015

    

2014

    

2013

 

Risk-free interest rate

 

0.6

%  

0.3

%  

0.2

%

Expected term (in years)

 

1.5

 

1.7

 

1.4

 

Dividend yield

 

0.0

%  

0.0

%  

0.0

%

Expected volatility

 

61.2

%  

66.0

%  

64.4

%