Quarterly report pursuant to Section 13 or 15(d)

Stock Based Compensation

v2.3.0.15
Stock Based Compensation
 9 Months Ended
Sep. 30, 2011
Stock Based Compensation [Abstract]  
Stock Based Compensation
 (6)  Stock Based Compensation
 
For the three and nine months ended September 30, 2011, we recognized stock-based compensation expense of $344,000 and $767,000. For the three and nine months ended September 30, 2010 we recognized stock-based compensation expense of $284,000 and $838,000.

The following table summarizes stock-based compensation for the three months ended September 30, 2011 and 2010:
 
    Three months ended     Nine months ended  
   
September 30,
    
September 30,
  
                         
   
2011
    
2010
    
2011
    
2010
  
Research and development
   $ 124,000     $ 210,000     $ 336,000     $ 575,000  
General and administrative
     220,000       74,000       431,000       263,000  
Stock-based compensation expense
   $ 344,000     $ 284,000     $ 767,000     $ 838,000  
   included in operating expense                                


For the three and nine months ended September 30, 2011 we granted 0 and 575,000 stock options, respectively. For the three and nine months ended September 30, 2010 we granted 0 and 640,000 stock options, respectively.

Our weighted average Black-Scholes fair value assumptions used to value the 2011 and 2010 first nine months grants are as follows:
 
 
9/30/11
  
9/30/10
  
Expected life(b)
  
   6.04 yrs
    
  5.7 yrs
  
Risk free interest rate
  
   2.0
%
  
  2.3
%
Expected volatility(a)
  
  119
% 
  
  123
%
Expected dividend yield
  
  0.0
%
  
  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.