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Stockholders' Equity and Stock-Based Compensation
 3 Months Ended
Mar. 31, 2020
Share-based Payment Arrangement [Abstract]  
Stockholders' Equity and Stock-Based Compensation Stockholders’ Equity and Stock-Based Compensation
Sale of Common Stock
In March 2020, we completed an underwritten public offering of 9,798,000 shares of our common stock at an offering price of $23.50 per share, including 1,278,000 shares sold pursuant to the underwriters’ full exercise of their option to purchase additional shares. Net proceeds realized from the offering amounted to approximately $221.7 million, after deducting commissions and other offering expenses.
Equity Incentive Plans
We have issued stock-based awards from various equity incentive and stock purchase plans, as more fully described in Note 12, Stock-Based Compensation to the consolidated financial statements in our 2019 Form 10-K.
Stock Options
The following is a summary of stock option activity for the three months ended March 31, 2020 (in thousands, except per share data):
Shares
Weighted-
Average
Exercise
Price per Share
Outstanding at December 31, 20194,253  $29.59  
Granted
841  30.11  
Exercised
(230) 16.87  
Canceled
(65) 37.07  
Outstanding at March 31, 20204,799  $30.19  

Restricted Stock Units
The following is a summary of restricted stock unit activity for the three months ended March 31, 2020 (in thousands, except per share data):
Shares
Weighted- Average Fair Value per Share at Grant Date
Outstanding at December 31, 2019439  $36.97  
Granted
216  27.36  
Vested
(66) 48.41  
Canceled
(8) 37.56  
Outstanding at March 31, 2020581  $32.11  

Stock-Based Compensation Expense Allocation
The following table summarizes the components of total stock-based compensation expense included in the condensed consolidated statements of operations (in thousands):
Three Months Ended March 31,
20202019
Research and development$2,729  $1,435  
Selling, general and administrative3,665  2,788  
Total$6,394  $4,223