|
Compensation and Other Benefit Plans (Tables)
|
12 Months Ended |
|
Dec. 31, 2013
|
| Compensation and Other Benefit Plans [Abstract] |
|
| Stock option activity |
A summary of the status of the Company’s stock option plans as of December 31, 2013, 2012, and 2011, and changes during the years ended on those dates is presented below:
| |
|
2013 |
|
|
2012 |
|
|
2011 |
|
Options: |
|
Shares |
|
|
Price* |
|
|
Shares |
|
|
Price* |
|
|
Shares |
|
|
Price* |
|
Outstanding at beginning of year |
|
|
6,788,383 |
|
|
$ |
8.99 |
|
|
|
5,053,435 |
|
|
$ |
12.55 |
|
|
|
2,331,450 |
|
|
$ |
25.36 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Granted |
|
|
1,168,203 |
|
|
$ |
3.13 |
|
|
|
2,351,445 |
|
|
$ |
2.59 |
|
|
|
2,920,166 |
|
|
$ |
2.81 |
|
Exercised |
|
|
(589,355 |
) |
|
$ |
2.26 |
|
|
|
(90,252 |
) |
|
$ |
1.68 |
|
|
|
- |
|
|
$ |
- |
|
Forfeited, expired or cancelled |
|
|
(151,190 |
) |
|
$ |
17.46 |
|
|
|
(526,245 |
) |
|
$ |
15.84 |
|
|
|
(198,181 |
) |
|
$ |
35.56 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Outstanding at end of year |
|
|
7,216,041 |
|
|
$ |
8.42 |
|
|
|
6,788,383 |
|
|
$ |
8.99 |
|
|
|
5,053,435 |
|
|
$ |
12.55 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Exercisable at end of year |
|
|
4,814,926 |
|
|
$ |
11.14 |
|
|
|
4,276,834 |
|
|
$ |
12.42 |
|
|
|
3,366,807 |
|
|
$ |
16.33 |
|
* |
Weighted-average exercise price |
|
| Unvested RSU activity |
Unvested RSU activity for the year ended December 31, 2013 is summarized below:
| |
|
Number of
Shares
|
|
|
Weighted-
Average Grant-
Date Fair Value
|
|
Unvested balance at December 31, 2012 |
|
|
1,459,853 |
|
|
$ |
2.75 |
|
Granted |
|
|
958,385 |
|
|
$ |
2.96 |
|
Vested |
|
|
(637,034 |
) |
|
$ |
2.57 |
|
Forfeited |
|
|
(43,167 |
) |
|
$ |
2.08 |
|
Unvested balance at December 31, 2013 |
|
|
1,738,037 |
|
|
$ |
2.73 |
|
|
| Weighted average assumptions |
The fair value of stock option awards was estimated using the Black-Scholes model with the following weighted average assumptions for the years ended December 31, 2013, 2012, and 2011:
| |
|
Year Ended December 31, |
|
| |
|
2013 |
|
|
2012 |
|
|
2011 |
|
Dividend yield |
|
|
0 |
% |
|
|
0 |
% |
|
|
0 |
% |
Expected volatility |
|
|
92 |
% |
|
|
92 |
% |
|
|
88 |
% |
Risk-free interest rate |
|
|
0.89 |
% |
|
|
0.82 |
% |
|
|
1.48 |
% |
Expected term |
|
5.6 years |
|
|
5.6 years |
|
|
5.4 years |
|
|
| Stock-based compensation expense |
The following table shows total stock-based compensation expense included in the consolidated statements of comprehensive loss for the years ended December 31, 2013, 2012, and 2011 (in thousands):
| |
|
Year Ended December 31, |
|
| |
|
2013 |
|
|
2012 |
|
|
2011 |
|
Research and development |
|
$ |
2,358 |
|
|
$ |
2,391 |
|
|
$ |
3,672 |
|
Selling, general and administrative |
|
|
2,741 |
|
|
|
1,893 |
|
|
|
4,087 |
|
Total stock-based compensation expense |
|
$ |
5,099 |
|
|
$ |
4,284 |
|
|
$ |
7,759 |
|
|