Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2017

Stock-Based Compensation Expense

The following table presents stock-based compensation expense included in the Company’s consolidated statements of comprehensive income (loss):

	Three Months Ended March 31,
	2017		2016
Cost of product revenue	$	141	$	60
Research and development		132		80
Selling, general and administrative		1,258		782
Total	$	1,531	$	922

Summary of Option Activity

Information regarding option activity for the three months ended March 31, 2017 under the Plans is summarized below:

	Options Outstanding			Weighted- Average Exercise Price Per Share		Weighted- Average Remaining Contractual Term (in years)		(in thousands) Aggregate Intrinsic Value
Options outstanding at December 31, 2016		882,748		$	16.88
Granted		86,215			32.40
Exercised		(137,903	)		9.67
Forfeited/cancelled		(25,157	)		21.31
Options outstanding at March 31, 2017		805,903		$	19.68		7.08	$	12,706
Options exercisable at March 31, 2017		406,859		$	14.18		5.73	$	8,659
Vested and expected to vest at March 31, 2017 (1)		791,227		$	19.57		7.05	$	12,530

⁽¹⁾  Represents the number of vested options as of March 31, 2017 plus the number of unvested options expected to vest as of March 31, 2017 based on the unvested outstanding options at March 31, 2017 adjusted for estimated forfeiture rates of 8% for awards granted to non-executive level employees and 3% for awards granted to executive level employees.

Summary of Restricted Stock Unit Activity

Information regarding restricted stock unit activity for the three months ended March 31, 2017 under the Plans is summarized below:

	Options Outstanding			Weighted- Average Exercise Price Per Share		Weighted- Average Remaining Contractual Term (in years)		(in thousands) Aggregate Intrinsic Value
Restricted stock units outstanding at December 31, 2016		353,838		$	—
Granted		125,067			—
Exercised		(63,811	)		—
Forfeited/cancelled		(10,313	)		—
Restricted stock units outstanding at March 31, 2017		404,781		$	—		3.12	$	14,248
Vested and expected to vest at March 31, 2017 (1)		378,579		$	—		3.01	$	13,326

⁽¹⁾  Represents the number of vested restricted stock units as of March 31, 2017 plus the number of unvested restricted stock units expected to vest as of March 31, 2017 based on the unvested outstanding restricted stock units at March 31, 2017 adjusted for estimated forfeiture rates of 8% for awards granted to non-executive level employees and 3% for awards granted to executive level employees.