Equity Incentive Plans Equity Incentive Plan (Tables)

9 Months Ended

Sep. 30, 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 inducement grants, during the nine months ended September 30, 2019 is summarized as follows:

	Equity Awards		Weighted- average Exercise Price per Share
Outstanding at December 31, 2018	6,466,214		$	23.26
Granted(1)	1,982,402		$	6.43
Cancelled/forfeited	(1,503,029	)	$	20.62
Outstanding at September 30, 2019	6,945,587		$	19.03

(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

The classification of share-based compensation expense is summarized as follows (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
Research and development	$	4,169	$	5,895	$	12,062	$	16,992
Selling, general and administrative	2,250		3,985		7,460		12,134
Total share-based compensation expense	$	6,419	$	9,880	$	19,522	$	29,126