Quarterly report pursuant to Section 13 or 15(d)

Stock Based Compensation

v2.4.0.6
Stock Based Compensation
 9 Months Ended
Sep. 30, 2012
Stock Based Compensation [Abstract]  
Stock Based Compensation
 (6)           Stock Based Compensation

For the three and nine months ended September 30, 2012, we recognized stock-based compensation expense of $85,000 and $307,000, respectively. For the three and nine months ended September 30, 2011 we recognized stock-based compensation expense of $344,000 and $767,000, respectively.

The following table summarizes stock-based compensation for the three and nine months ended September 30, 2012 and 2011:
 
Three months ended
September 30,
Nine months ended
September 30,
2012
2011
2012
2011
Research and development
$
9,000
$
103,000
$
83,000
$
282,000
Selling, general and administrative
76,000
241,000
224,000
485,000
Stock-based compensation expense included in operating expense
$
 85,000
$
 344,000
$
 307,000
$
 767,000

For the three and nine months ended September 30, 2012 we granted 0 and 510,000 stock options, respectively. For the three and nine months ended September 30, 2011 we granted 0 and 575,000 stock options, respectively.

Our weighted average Black-Scholes fair value assumptions used to value the 2012 and 2011 first nine months grants are as follows:
 
 
 
 
 
 
 
 
9/30/12
 
 
9/30/11
 
Expected life(b)
 
5.5 yrs
 
 
6.04 yrs
 
Risk free interest rate
 
 
0.6
%
 
 
2.3
%
Expected volatility(a)
 
 
96
% 
 
 
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.