Quarterly report pursuant to Section 13 or 15(d)

Stock-based Compensation (Tables)

v2.4.0.6
Stock-based Compensation (Tables)
9 Months Ended
Sep. 30, 2012
Stock-based Compensation [Abstract]  
Weighted average assumptions
The fair value of stock-based awards was estimated based on the following weighted average assumptions for the three and nine months ended September 30, 2012 and 2011:
 
   
Three Months Ended September 30,
   
Nine Months Ended September 30,
 
   
2012
   
2011
   
2012
   
2011
 
Dividend yield
    0 %     0 %     0 %     0 %
Expected volatility
    92 %     89 %     92 %     87 %
Risk-free interest rate
    0.65 %     0.96 %     0.83 %     1.86 %
Expected term
 
5.6 years
   
5.6 years
   
5.6 years
   
5.3 years
 
Stock option activity
Stock option activity for the nine months ended September 30, 2012 was as follows:
 
   
Options
   
Weighted Average
Exercise Price Per
Share
   
Weighted Average
Remaining
Contractual Life
(in years)
   
Aggregate
Intrinsic Value
(in thousands)
 
Options outstanding at December 31, 2011
    5,053,435     $ 12.55       6.89     $ -  
Granted
    2,161,920       2.57                  
Exercised
    (77,797 )     1.69                  
Forfeited, expired or cancelled
    (484,144 )     15.96                  
Options outstanding at September 30, 2012
    6,653,414     $ 9.19       7.51     $ 4,520,629  
Options exercisable at September 30, 2012
    4,003,868     $ 13.10       6.53     $ 2,106,931  
Unvested RSU activity
Unvested RSU activity for the nine months ended September 30, 2012 is summarized below:
 
         
Weighted-
 
   
Number of
   
Average Grant-
 
   
Shares
   
Date Fair Value
 
Unvested balance at December 31, 2011
    903,874     $ 1.69  
Granted
    1,190,323       2.84  
Vested
    (194,629 )     3.44  
Forfeited
    (200,261 )     1.69  
Unvested balance at September 30, 2012
    1,699,307     $ 2.29  
Stock-based compensation expense
The following table shows total stock-based compensation expense included in the condensed consolidated statements of comprehensive loss for the three and nine months ended September 30, 2012 and 2011 (in thousands):

   
Three Months Ended September 30,
   
Nine Months Ended September 30,
 
   
2012
   
2011
   
2012
   
2011
 
Research and development
  $ 1,304     $ 458     $ 1,984     $ 2,404  
Selling, general and administrative
    818       1,084       1,384       3,194  
Total stock-based compensation expense
  $ 2,122     $ 1,542     $ 3,368     $ 5,598