Quarterly report pursuant to Section 13 or 15(d)

Stock Plans (Tables)

v2.4.0.8
Stock Plans (Tables)
9 Months Ended
Sep. 30, 2013
Stock Plans [Abstract]  
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]
The following table summarizes the stock-based compensation expense recorded for awards under the stock option plans for the three and nine month periods ended September 30, 2013 and 2012:
 
 
 
Three Months Ended
September 30,
 
Nine months Ended
September 30,
 
(in thousands, except per share amounts)
 
2013
 
2012
 
2013
 
2012
 
Research and development
 
$
11
 
$
148
 
$
367
 
$
878
 
General and administrative
 
 
10
 
 
217
 
 
289
 
 
1,355
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total stock-based compensation expenses
 
$
21
 
$
365
 
$
656
 
$
2,233
 
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions [Table Text Block]
We use the Black-Scholes-Merton option-pricing model with the following assumptions to estimate the stock-based compensation expense for the three and nine month periods ended September 30, 2013 and 2012:
 
 
 
Three Months Ended
September 30,
 
 
Nine months Ended
September 30,
 
 
 
2013
 
 
2012
 
 
2013
 
 
2012
 
Weighted-average risk-free interest rate
 
 
0.9
%
 
 
0.9
%
 
 
0.9
%
 
 
0.9
%
Expected dividend payments
 
 
 
 
 
 
 
 
 
 
 
 
Expected holding period (years)1
 
 
3.8
 
 
 
5.1
 
 
 
4.0
 
 
 
5.1
 
Weighted-average volatility factor2
 
 
1.05
 
 
 
1.74
 
 
 
1.48
 
 
 
1.74
 
Estimated forfeiture rates for options granted to
    management3
 
 
23
%
 
 
23
%
 
 
23
%
 
 
23
%
Estimated forfeiture rates for options granted to
    non-management3
 
 
41
%
 
 
41
%
 
 
41
%
 
 
41
%
 
(1)
Expected holding periods are based on the simplified method provided in Staff Accounting Bulletin No. 107 for “plain vanilla options.”
(2)
Weighted average volatility is based on the historical volatility of our common stock.
(3)
Estimated forfeiture rates are based on historical data.
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]
The following table summarizes option activity for the nine month period ended September 30, 2013:
 
(in thousands, except per share amounts)
 
Options
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Option
Term
 
Aggregate
Intrinsic
Value
 
Outstanding at January 1, 2013
 
 
6,842
 
$
1.33
 
 
6.65
 
$
722
 
Granted
 
 
 
 
 
 
 
 
 
 
 
Exercised
 
 
(75)
 
 
1.50
 
 
 
 
 
 
 
Expired or cancelled
 
 
 
 
 
 
 
 
 
 
 
Forfeited
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Outstanding at September 30, 2013
 
 
6,767
 
$
1.32
 
 
5.97
 
$
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Exercisable at September 30, 2013
 
 
6,753
 
$
1.32
 
 
5.97
 
$