Quarterly report pursuant to Section 13 or 15(d)

Stock Based Compensation

v2.4.0.8
Stock Based Compensation
 6 Months Ended
Jun. 30, 2013
Stock Based Compensation [Abstract]  
Stock Based Compensation
 (4)           Stock Based Compensation
 
For the three and six months ended June 30, 2013, we recognized stock-based compensation expense of $251,000 and $328,000, respectively. For the three and six months ended June 30, 2012 we recognized stock-based compensation expense of $108,000 and $222,000, respectively.
 
The following table summarizes stock-based compensation for the three and six months ended June 30, 2013 and 2012:
 
   
Three months ended
June 30,
    
Six months ended
June 30,
  
   
2013
    
2012
    
2013
    
2012
  
Research and development
   $ 10,000     $ 33,000     $ 19,000     $ 74,000  
Selling, general and administrative
     241,000       75,000       309,000       148,000  
Stock-based compensation expense
  included in operating expense
   $ 251,000     $ 108,000     $ 328,000     $ 222,000  
 
For both the three and six months ended June 30, 2013 we granted no stock options. For the three and six months ended June 30, 2012 we granted 510,000 and 510,000 stock options, respectively.
 
Our weighted average Black-Scholes fair value assumptions used to value the grants in the first six months of 2012 are as follows:
 
     
 
6/30/12
  
Expected life(b)
  5.5 yrs
  
Risk free interest rate
  0.6
%
Expected volatility(a)
  96
%
Expected dividend yield
  0.0
%
 
(a)
Reflects movements in our stock price over the most recent historical period equivalent to the expected life.
(b)
Based on the simplified method.
 
For the three and six months ended June 30, 2012, stock valued at $232,000 and $232,000, respectively, was granted to directors and officers.