Share-Based Compensation

Share-based Compensation

We utilize share-based compensation in the form of stock options, warrants and restricted stock. The following table summarizes the components of share-based compensation expense for the three and nine months ended September 30, 2014 and 2013 (in thousands):



	Three Months Ended September 30,				Nine Months Ended September 30,
	2014		2013		2014		2013
Cost of goods sold	$	55.9	$	88.8	$	292.6	$	233.7
Research and development	515.7		319.9		1,364.2		667.0
Selling, general and administrative	2,716.3		1,718.9		7,284.7		4,511.8
Total share-based compensation expense	$	3,287.9	$	2,127.6	$	8,941.5	$	5,412.5

Total compensation cost related to nonvested awards not yet recognized and the weighted-average periods over which the awards are expected to be recognized at September 30, 2014 were as follows (dollars in thousands):



	Stock Options		Warrants		Restricted Stock
Unrecognized compensation cost	$	6,266.7	$	20.4	$	327.4
Expected weighted-average period in years of compensation cost to be recognized	4.94		0.79		0.31

Total fair value of shares vested and the weighted average estimated fair values of shares granted for the nine months ended September 30, 2014 and 2013 were as follows (dollars in thousands):



	Stock Options				Warrants
	Nine Months Ended September 30,				Nine Months Ended September 30,
	2014		2013		2014		2013
Total fair value of shares vested	$	4,141.6	$	2,470.0	$	15.3	$	123.0
Weighted average estimated fair value of shares granted	$	4.67	$	4.30	$	—	$	3.45