Quarterly report pursuant to Section 13 or 15(d)

Stock Based Compensation

v2.4.0.6
Stock Based Compensation
 3 Months Ended
Mar. 31, 2012
Stock Based Compensation [Abstract]  
Stock Based Compensation
 (6)           Stock Based Compensation

For the three months ended March 31, 2012, we recognized stock-based compensation expense of $114,000. For the three months ended March 31, 2011 we recognized stock-based compensation expense of $181,000.
 
The following table summarizes stock-based compensation for the three months ended March 31, 2012 and 2011:
 
   
Three months ended
March 31,
  
       
   
2012
    
2011
  
Research and development
   $ 73,000     $ 103,000  
General and administrative
     41,000       78,000  
Stock-based compensation expense
   included in operating expense
   $ 114,000     $ 181,000  
 
For the three months ended March 31, 2012 we granted no stock options. For the three months ended March 31, 2011 we granted 100,000 stock options.
 
Our weighted average Black-Scholes fair value assumptions used to value the grants made in the first three months of 2012 and 2011 are as follows:
 
             
   
3/31/12
    
3/31/11
  
Expected life(b)
 
0 yrs
    
6.25 yrs
  
Risk free interest rate
     0.0 %     1.1 %
Expected volatility(a)
    0.0 %      112 %
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.