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Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Stock-Based Compensation Expense
Stock-based compensation expense included within “total operating costs and expenses” for years ended December 31, 2016, 2015, and 2014 was as follows:
 
 
Year Ended December 31,
 
2016
 
2015
 
2014
Cost of product sales
$
135

 
$
62

 
$
—

Selling, general and administrative
10,410

 
10,049

 
10,053

Research and development
1,867

 
1,973

 
1,756

Total
$
12,412

 
$
12,084

 
$
11,809
Fair Value of Stock Options Granted Using Black-Scholes Option Pricing Model
The fair value of stock options granted was estimated at the date of grant using the Black-Scholes option-pricing model. The following assumptions were used to determine fair value for the stock awards granted in the applicable year:
 
Year Ended December 31,
 
2016
 
2015
 
2014
Expected option life (in years) (a)
5.02
 
5.43
 
4.95
Risk-free interest rate (b)
1.07% - 1.90%
 
1.25% - 1.68%
 
0.58% - 1.52%
Volatility (c)
48.9% - 50.6%
 
48.0% - 50.2%
 
48.9% - 62.1%
Dividend yield (d)
—%
 
—%
 
—%
Weighted-average grant-date fair value per stock option
$2.80
 
$2.85
 
$3.49
 
(a)
Determined by the historical stock option exercise behavior of our employees (maximum term is 10 years).
(b)
Based upon the U.S. Treasury yields in effect during the period which the options were granted (for a period equaling the stock options’ expected term).
(c)
Measured using our historical stock price for a period equal to stock options’ expected term.
(d)
We do not expect to declare any cash dividends in the foreseeable future.
Summary of Stock Option Activity
Stock option activity during the years ended December 31, 2016, 2015, and 2014 is as follows:

Number of
Shares
 
Weighted-
Average
Exercise
Price/Share
 
Weighted-
Average
Remaining
Contractual
Term (Years)
 
Aggregate
Intrinsic
Value
 

Outstanding — December 31, 2013
11,329,218

 
$
7.10

 

 

 

Granted
2,576,292

 
7.60

 

 

 

Exercised
(485,260
)
 
4.77

 

 
$
1,629

 
(1
)
Forfeited
(557,109
)
 
9.65

 

 

 

Expired
(214,039
)
 
10.70

 

 

 

Outstanding — December 31, 2014
12,649,102

 
7.12

 

 

 

Granted
2,219,587

 
6.04

 

 

 

Exercised
(456,082
)
 
4.45

 

 
$
977

 
(1
)
Forfeited
(296,162
)
 
8.06

 

 

 

Expired
(279,594
)
 
9.05

 

 

 

Outstanding — December 31, 2015
13,836,851

 
6.97

 

 


 

Granted
1,435,550

 
5.94

 

 

 

Exercised
(39,010
)
 
5.18

 

 
$
50

 
(1
)
Forfeited
(379,268
)
 
7.21

 

 

 

Expired
(513,541
)
 
7.26

 

 

 

Outstanding — December 31, 2016
14,340,582

 
$
6.86

 
5.71
 
$
2,848

 
(2
)
Vested (exercisable) — December 31, 2016
11,206,200

 
$
6.99

 
4.87
 
$
2,829

 
(2
)
Unvested (unexercisable) — December 31, 2016
3,134,382

 
$
6.37

 
8.70
 
$
19

 
(2
)

(1)
Represents the total difference between our closing stock price at the time of exercise and the stock option exercise price, multiplied by the number of options exercised.
(2)
Represents the total difference between our closing stock price on the last trading day of 2016 and the stock option exercise price, multiplied by the number of in-the-money options as of December 31, 2016. The amount of intrinsic value will change based on the fair market value of our stock.
Summary of Stock Option Grants
The following table summarizes information with respect to stock option grants as of December 31, 2016:
 
Outstanding
 
Exercisable
Exercise Price
Granted Stock
Options
Outstanding
 
Weighted-
Average
Remaining
Contractual
Life (Years)
 
Weighted-
Average
Exercise
Price
 
Granted
Stock
Options
Exercisable
 
Weighted-
Average
Exercise
Price
$0.92 - 3.15
1,090,385

 
1.49
 
$
2.18

 
1,090,385

 
$
2.18

$3.16 - 4.95
1,422,320

 
3.60
 
4.24

 
1,349,320

 
4.24

$4.96 - 6.9
5,413,364

 
6.22
 
6.09

 
3,323,866

 
6.21

$6.91 - 8.99
4,000,514

 
6.62
 
7.78

 
3,038,641

 
7.87

$9.00 - 16.32
2,413,999

 
6.21
 
10.68

 
2,403,988

 
10.69


14,340,582

 
5.71
 
$
6.86

 
11,206,200

 
$
6.99
Summary of Restricted Stock Award Activity
A summary of restricted stock award activity is as follows:
 
Number of
Restricted Stock
Awards
 
Weighted Average
Fair Value per
Share at Grant
Date
Unvested — December 31, 2013
1,007,119

 
$
10.09

Granted
581,194

 
7.52

Vested
(578,985
)
 
10.24

Forfeited
(185,111
)
 
9.88

Unvested — December 31, 2014
824,217

 
8.22

Granted
1,948,585

 
6.32

Vested
(364,507
)
 
8.47

Forfeited
(234,313
)
 
7.32

Unvested — December 31, 2015
2,173,982

 
6.58

Granted
1,203,675

 
5.93

Vested
(889,857
)
 
6.49

Forfeited
(335,643
)
 
6.33

Unvested — December 31, 2016
2,152,157

 
$
6.29
Fair Value of Restricted Stock Awards

2016
 
2015
 
2014
Restricted stock expense
$
6,005

 
$
4,006

 
$
3,830
Issued Shares of Common Stock
We issued shares of common stock to our employees in connection with our 401(k) program, partially matching our employees’ annual 401(k) contributions, as summarized below:

2016
 
2015
 
2014
Shares of common stock issued
172,650

 
179,865

 
133,734

Match contribution value*
$
953

 
$
1,124

 
$
1,028

*
Represents our stock price on the date of the common stock issuance multiplied by the number of shares of common stock issued. The current year value is lower compared to the prior year periods due to the November and December 2016 401(k) match being made with cash instead of shares of common stock.