Annual report pursuant to Section 13 and 15(d)

Stock Plans (Tables)

v2.4.0.6
Stock Plans (Tables)
12 Months Ended
Dec. 31, 2012
Stock Plans [Abstract]  
Activity under our stock plans
                         
    Shares or
Awards  Available
For Grant
    Number of
Options and
Awards
Outstanding
    Weighted Average
Exercise Price
 

Balance at December 31, 2009

    2,418       6,090     $     3.68  

Options granted

    (150     150     $ 2.36  

Options cancelled and expired

    1,244       (1,243   $ 9.11  

Awards granted

    (119     119     $ 0.00  
   

 

 

   

 

 

   

 

 

 

Balance at December 31, 2010

    3,393       5,115     $ 2.29  

Options granted

    (734     734     $ 1.44  

Options cancelled and expired

    45       (241   $ 15.01  

Options forfeited

    55       (55   $ 1.77  

Awards granted

    (181     181     $ 0.00  

Awards issued

          (139   $ 0.00  
   

 

 

   

 

 

   

 

 

 

Balance at December 31, 2011

    2,578       5,595     $ 1.56  

Options granted

    (1,718     1,718     $ 1.14  

Options cancelled and expired

    290       (290   $ 5.54  

Awards issued

          (181   $ 0.00  

Expiration of option plan

    (1,150         $ 0.00  
   

 

 

   

 

 

   

 

 

 

Balance at December 31, 2012

          6,842     $ 1.33  
   

 

 

   

 

 

   

 

 

 
Options outstanding
                                         
    Options Outstanding     Options Exercisable  

Range of Exercise Prices

  Number
Outstanding
    Weighted
Average
Remaining
Life (Years)
    Weighted
Average
Exercise Price
    Number
Exercisable
    Weighted
Average
Exercise Price
 

$0.69 - $1.53

    5,499       7.22     $ 1.05       4,753     $ 1.04  

$1.54 - $2.38

    604       4.85     $ 2.19       542     $ 2.19  

$2.39 - $3.22

    642       4.27     $     2.52       642     $     2.52  

$3.23 - $4.06

    97       1.01     $ 3.55       97     $ 3.55  
   

 

 

                   

 

 

   

 

 

 

$0.69 - $4.06

    6,842       6.65     $ 1.33       6,034     $ 1.35  
   

 

 

                   

 

 

   

 

 

 
Schedule of assumptions used to estimate the stock-based compensation expense
                         
    Years Ended December 31,  
        2012             2011             2010      

Weighted-average risk-free interest rate

    0.91     2.3     2.3

Expected dividend payments

                 

Expected holding period (years)(1)

    5.1       5.4       4.2  

Weighted-average volatility factor(2)

    1.75       1.71       1.89  

Estimated forfeiture rates for options granted to management(3)

    23     23     23

Estimated forfeiture rates for options granted to non-management(3)

    41     41     41

 

(1) Expected holding period is based on historical experience of similar awards, giving consideration to the contractual terms of the stock-based awards, vesting schedules and the expectations of future employee behavior.
(2) Weighted average volatility is based on the historical volatility of the Company’s common stock.
(3) Estimated forfeiture rates are based on historical data.
Summary of stock-based compensation expense recorded for awards under the stock option plans
                         
    Years Ended December 31,  

(in thousands, except per share amounts)

      2012             2011             2010      

Research and development

  $ 1,560     $ 371     $ 202  

General and administrative

    1,021       806       531  
   

 

 

   

 

 

   

 

 

 

Total stock-based compensation expenses

  $ 2,581     $ 1,177     $ 733  
   

 

 

   

 

 

   

 

 

 

Increase in basic and diluted net loss per share

  $ (0.04   $ (0.02   $ (0.01
   

 

 

   

 

 

   

 

 

 
Summary of option activity
                                 

(in thousands, except per share amounts)

  Shares     Weighted
Average
Exercise
Price
    Weighted
Average
Remaining
Contractual
Term
    Aggregate
Intrinsic
Value
 

Outstanding at January 1, 2012

    5,414     $ 1.61                  

Granted

    1,718       1.14                  

Cancelled

    (290     5.54                  
   

 

 

   

 

 

   

 

 

   

 

 

 

Outstanding at December 31, 2012

    6,842     $ 1.33       6.65     $ 722  
   

 

 

   

 

 

   

 

 

   

 

 

 

Exercisable at December 31, 2012

    6,035     $ 1.35       6.44     $ 675  
   

 

 

   

 

 

   

 

 

   

 

 

 
Summary of restricted stock activity
                                 

(in thousands, except per share amounts)

  Shares     Weighted
Average
Exercise
Price
    Weighted
Average
Remaining
Contractual
Term
    Aggregate
Intrinsic
Value
 

Outstanding at January 1, 2012

    181     $ 0.00                  

Shares issued

    (181     0.00                  
   

 

 

   

 

 

   

 

 

   

 

 

 

Outstanding at December 31, 2012

        $ 0.00           $  
   

 

 

   

 

 

   

 

 

   

 

 

 

Vested at December 31, 2012

        $           $