Equity Incentive Plans Equity Incentive Plan (Tables)

3 Months Ended

Mar. 31, 2019

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

Equity award activity

The activity related to equity awards, which are comprised of stock options and an inducement grant (described below), is summarized as follows:

	Shares Underlying Stock Options		Weighted- average Exercise Price per Share
Outstanding at December 31, 2018	6,466,214		$	23.26
Granted(1)	1,764,041		$	6.06
Forfeited	(700,464	)	$	22.08
Outstanding at March 31, 2019	7,529,791		$	19.34

(1) In March 2019, the Company issued a stock option grant to the Company’s recently appointed Chief Commercial Officer to purchase 80,000 shares of common stock at an exercise price equal to the fair market value of the Company’s common stock on the grant date. The grant was awarded as an inducement grant outside of the 2013 Equity Plan. On the first anniversary of the grant date, 25% of the underlying shares become exercisable with the remaining shares vesting on a monthly basis over the subsequent three years subject to continued service during that time.

Share-based compensation expense

Total share-based compensation expense related to all share-based awards was comprised of the following (in thousands):

	Three Months Ended   March 31,
	2019		2018
Research and development	$	3,899	$	5,396
Selling, general and administrative	2,812		4,006
Total share-based compensation expense	$	6,711	$	9,402