Stock-Based Compensation

9 Months Ended

Sep. 30, 2015

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

Note 7 — Stock-Based Compensation

Total stock-based compensation expense was recognized in our Condensed Consolidated Statements of Operations as follows (in thousands):


	Three months ended September 30,				Nine months ended September 30,
	2015		2014		2015		2014
Cost of goods sold	$	274	$	268	$	837	$	867
Research and development expense		2,208		1,774		6,755		5,579
General and administrative expense		2,280		2,080		6,907		6,201

Total stock-based compensation	$	4,762	$	4,122	$	14,499	$	12,647

During the three months ended September 30, 2015 and 2014, we granted 483,300 and 632,550 stock options, respectively, at a weighted average grant-date fair value of $5.86 per share and $5.80 per share, respectively. During the three and nine months ended September 30, 2015, we also granted 120,000 restricted stock unit awards (RSUs). No RSUs were granted in 2014.

During the nine months ended September 30, 2015 and 2014, we granted 962,310 and 4,408,590 stock options, respectively, at a weighted average grant-date fair value of $6.10 per share and $5.84 per share, respectively. The number of stock options granted during the nine months ended September 30, 2014 was significantly higher than the stock options granted during the nine months ended September 30, 2015 because we made our annual employee stock option grant for the 2013 performance period in February 2014 and our annual employee stock option grant for the 2014 performance period in December 2014.

As a result of stock issuances under our equity compensation plans, during the three months ended September 30, 2015 and 2014, we issued 1,031,573 and 961,395 common shares, respectively, and during the nine months ended September 30, 2015 and 2014, we issued 2,000,823 and 1,979,282 common shares, respectively.