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133 - Disclosure - Stock-Based Compensation (Tables)
(http://www.achillion.com/taxonomy/role/NotesToFinancialStatementsDisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlockTables)
TableStatement [Table]
Slicers (applies to each fact value in each table cell)
Statement [Line Items]Period [Axis]
2016-01-01 - 2016-12-31
Summary of Stock Option Activity

A summary of the status of the Company’s stock option activity for the year ended December 31, 2016 is presented in the table and narrative below:

 

     2016  
     Options     Weighted
Average
Exercise
Price
 

Outstanding at January 1, 2016

     8,501     $ 7.08  

Granted

     2,406       7.85  

Exercised

     (41     2.64  

Forfeited

     (160     7.75  

Cancelled

     (312     14.72  
  

 

 

   

 

 

 

Outstanding at December 31, 2016

     10,394     $ 7.04  
  

 

 

   

 

 

 

Options exercisable at December 31, 2016

     6,770     $ 6.32  
  

 

 

   

 

 

 

Options vested and expected to vest at December 31, 2016

     9,950     $ 6.99  
  

 

 

   

 

 

 
 
 
Summary of Stock Options Outstanding

The following table summarizes information about stock options outstanding at December 31, 2016:

 

     Options Outstanding      Options Vested  

Range of Exercise Prices

   Number
Outstanding
     Weighted Average
Remaining
Contractual Life
(Years)
     Weighted
Average
Exercise
Price
     Number
Vested
     Weighted
Average
Exercise
Price
 

$0.00 – $2.00

     132        2.0      $ 1.05        132      $ 1.05  

$2.01 – $4.00

     3,218        5.6        3.07        2,756        3.08  

$4.01 – $6.00

     377        1.4        5.13        367        5.16  

$6.01 – $8.00

     3,676        7.5        7.49        1,699        7.45  

$8.01 – $10.00

     1,135        6.6        8.71        966        8.69  

$10.01 – $12.00

     384        8.6        10.40        69        10.60  

$12.01 – $14.00

     1,469        7.9        13.44        778        13.43  

$14.01 – $20.00

     3        0.1        19.00        3        19.00  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
     10,394        6.6      $ 7.04        6,770      $ 6.32  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
 
 
Assumptions Used to Value Options Granted

The assumptions used to value options granted are as follows:

 

     For the Years Ended December 31,  
     2016      2015      2014  

Expected term of option

     6.0 – 6.25 years        6.25 years        5.0 – 6.25 years  

Expected volatility

     81% – 84%        84% – 91%        92% – 96%  

Risk free interest rate

     1.15 – 2.09%        1.54 – 1.93%        1.81 – 2.02%  

Expected dividend yield

     0%        0%        0%  
 
 
Compensation Expense Related to Option Grants Made to Employees and Consultants

Compensation expense related to option grants made to employees and consultants is included in research and development and general and administrative expense as follows:

 

     For the Years Ended December 31,  
         2016              2015              2014      

Research and development

   $ 4,601      $ 4,346      $ 2,713  

General and administrative

     6,304        5,567        4,464  
  

 

 

    

 

 

    

 

 

 

Total

   $ 10,905      $ 9,913      $ 7,177  
  

 

 

    

 

 

    

 

 

 
 
 
Assumptions Used to Value Options Granted Under 2006 ESPP Plan

The assumptions used to value options granted under the 2006 ESPP Plan are as follows:

 

     For the Years Ended December 31,
     2016    2015    2014

Expected term of option

   6 months    6 months    6 months

Expected volatility

   55% – 66%    57% – 88%    67% – 130%

Risk free interest rate

   0.05 – 0.06%    0.07 – 0.08%    0.06 – 0.08%

Expected dividend yield

   0%    0%    0%