Quarterly report pursuant to Section 13 or 15(d)

Stock Based Compensation

v2.4.0.8
Stock Based Compensation
 9 Months Ended
Sep. 30, 2014
Stock Based Compensation [Abstract]  
Stock Based Compensation
(5)            Stock Based Compensation

For the three and nine months ended September 30, 2014, we recognized stock-based compensation expense of $172,000 and $1,159,000, respectively. For the three and nine months ended September 30, 2013 we recognized stock-based compensation expense of $26,000 and $354,000, respectively.

The following table summarizes stock-based compensation for the three and nine months ended September 30, 2014 and 2013:

   
Three months ended
September 30,
   
Nine months ended
September 30,
 
   
2014
   
2013
   
2014
   
2013
 
Research and development
  
$
18,000
    
$
9,000
    
$
113,000
    
$
28,000
  
Selling, general and administrative
    
154,000
      
17,000
      
1,046,000
      
326,000
  
Stock-based compensation expense included in operating expense
  
$
172,000
    
$
26,000
    
$
1,159,000
    
$
354,000
  
 
For the three and nine months ended September 30, 2014 we granted no stock options and 210,000 stock options, respectively. For the three and nine months ended September 30, 2013 we granted no stock options.

Our weighted average Black-Scholes fair value assumptions used to value the grants in the first nine months of 2014 are as follows:
   
 
9/30/14
  
Expected life(b)
5.5 yrs
  
Risk free interest rate
    
1.65
%
Expected volatility(a)
   
102
%
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 nine months ended September 30, 2014, stock valued at $84,000 and $291,000, respectively, was granted to consultants. For the three and nine months ended September 30, 2013, stock valued at $45,000 and $208,000, respectively, was granted to employees and consultants.