Equity-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of details regarding stock options granted under equity incentive plans

The following table summarizes stock option activity during 2017:

	2007 Equity		2000 Equity		2013 Lumara		Inducement
	Plan		Plan		Equity Plan		Grants		Total
Outstanding at December 31, 2016	2,158,822		5,200		134,181		814,975		3,113,178
Granted	1,044,817		—		10,075		91,100		1,145,992
Exercised	(92,529	)	—		—		—		(92,529	)
Expired or terminated	(520,737	)	(5,200	)	(18,720	)	(90,625	)	(635,282	)
Outstanding at December 31, 2017	2,590,373		—		125,536		815,450		3,531,359

The following table summarizes details regarding stock options granted under our equity incentive plans for the year ended December 31, 2017:

	December 31, 2017
	Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value ($ in thousands)
Outstanding at beginning of year	3,113,178		$	31.97	—	$	—
Granted	1,145,992		20.11		—	—
Exercised	(92,529	)	15.39		—	—
Expired and/or forfeited	(635,282	)	33.56		—	—
Outstanding at end of year	3,531,359		$	28.27	7.2	$	55
Outstanding at end of year - vested and unvested expected to vest	3,267,530		$	28.37	7.1	$	55
Exercisable at end of year	1,871,179		$	29.33	5.8	$	55

Summary of details regarding restricted stock units granted under equity incentive plans

The following table summarizes details regarding RSUs granted under our equity incentive plans for the year ended December 31, 2017:

	December 31, 2017
	Restricted Stock Units		Weighted Average Grant Date Fair Value
Outstanding at beginning of year	936,954		$	28.78
Granted	821,327		24.18
Vested	(431,190	)	28.45
Forfeited	(257,316	)	25.95
Outstanding at end of year	1,069,775		$	26.07
Outstanding at end of year and expected to vest	886,876		$	26.19

The following table summarizes RSU activity during 2017:

	2007 Equity		2000 Equity	2013 Lumara		Inducement
	Plan		Plan	Equity Plan		Grants		Total
Outstanding at December 31, 2016	773,804		—	27,694		135,456		936,954
Granted	797,027		—	—		24,300		821,327
Vested	(361,548	)	—	(13,330	)	(56,312	)	(431,190	)
Expired or terminated	(242,660	)	—	(2,753	)	(11,903	)	(257,316	)
Outstanding at December 31, 2017	966,623		—	11,611		91,541		1,069,775

Schedule of equity-based compensation expense

Equity-based compensation expense for 2017, 2016 and 2015 consisted of the following (in thousands):

	Years Ended December 31,
	2017			2016			2015
Cost of product sales and services	$	1,278		$	520		$	371
Research and development	3,225			3,476			2,992
Selling, general and administrative	19,161			18,547			13,874
Total equity-based compensation expense	$	23,664		$	22,543		$	17,237
Income tax effect	(6,884		)	(6,232		)	(4,885		)
After-tax effect of equity-based compensation expense	$	16,780		$	16,311		$	12,352

Schedule of share-based payment award, stock options, valuation assumptions

The following table summarizes the weighted average assumptions we utilized for purposes of valuing grants of options to our employees and non-employee directors:

	Years Ended December 31,
	2017		2016		2015
		Non-Employee		Non-Employee		Non-Employee
	Employees	Directors	Employees	Directors	Employees	Directors
Risk free interest rate (%)	1.86	1.61	1.32	1.10	1.55	1.24
Expected volatility (%)	53	57	49	54	47	46
Expected option term (years)	5.0	4.0	5.0	3.0	5.0	4.0
Dividend yield	none	none	none	none	none	none