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Share-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of share-based compensation expense related to share-based awards
Total share-based compensation expense related to share-based awards for the years ended December 31, 2014 and 2013 was comprised of the following (in thousands):

 
December 31,
 
2014
 
2013
Research and development
$
1,265

 
$
992

General and administrative
7,727

 
11,381

Share-based compensation expense included in operating expenses
$
8,992

 
$
12,373

Share-based compensation expense from:
 
 
 
Stock options
$
1,152

 
$
7,762

Restricted stock awards and restricted stock units
7,840

 
4,611

Share-based compensation expense included in operating expenses
$
8,992

 
$
12,373
Summary of stock option activity
he Company’s stock option award activity for the years ended December 31, 2014 and 2013 was comprised of the following:

 
Outstanding Options
 
Shares
Underlying
Stock Options
 
Weighted-Average Exercise Price per Share
 
Weighted-
Average
Remaining
Contractual
Term
 
Aggregate
Intrinsic
Value
Outstanding at December 31, 2012
11,844,627

 
$3.00
 
 
 
 
Granted
54,000

 
$6.00
 
 
 
 
Canceled
(11,844,609
)
 
$3.00
 
 
 
 
Forfeited/Expired
(18
)
 
$0.00
 
 
 
 
Outstanding at December 31, 2013
54,000

 
$6.00
 
 
 
 
Granted
567,696

 
$9.88
 

 
 
Restricted stock awarded
(2,796
)
 
$0.00
 
 
 
 
Outstanding at December 31, 2014
618,900

 
$9.54
 
9.37 years
 
$
5,514,059

Vested and expected to vest at December 31, 2014
618,900

 
$9.54
 
9.37 years
 
$
5,514,059

Exercisable at December 31, 2014
15,750

 
$6.00
 
8.89 years
 
$
196,088
Fair value of each option grant on the date of grant using the Black-Scholes option-pricing model
The Company estimated the fair value of each option grant on the date of grant using the Black-Scholes model with the following weighted-average assumptions:

 
December 31,
 
2014
 
2013
Risk-free interest rate
2.1
%
 
2.8
%
Dividend yield
0
%
 
0
%
Volatility
186
%
 
213
%
Expected life (years)
6.74 years

 
10.00 years
Summary of restricted stock activity
he Company’s restricted stock award activity for the years ended December 31, 2014 and 2013 was comprised of the following:

 
Number of Shares
 
Weighted Average Grant Date Fair Value
Unvested at December 31, 2012
59,755

 
$
3.00

Granted
1,782,853

 
$
11.65

Vested
(36,000
)
 
$
4.00

Forfeited
—

 
$
—

Unvested at December 31, 2013
1,806,608

 
$
11.51

Granted
2,976

 
$
8.40

Vested
(2,976
)
 
$
8.40

Forfeited
(47,129
)
 
$
4.41

Unvested at December 31, 2014
1,759,479

 
$
11.70