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Stockholders' Equity (Tables)
3 Months Ended
Mar. 31, 2013
Option Activity under Stock-Based Compensation Plans

Option activity under our stock-based compensation plans during the three months ended March 31, 2013 was as follows (in thousands except per share amounts):

 

    Shares Underlying
Outstanding Options
    Weighted-Average
Exercise Price Per Share
    Weighted-Average
Remaining
Contractual Term
(years)
    Aggregate
Intrinsic
Value
 

Balance as of December 31, 2012

    13,806      $ 3.38       

Options granted

    2,981        2.96       

Options exercised

    (57     1.50       

Options cancelled:

       

Options forfeited (unvested)

    (361     3.64       

Options cancelled (vested)

    (21     2.85       
 

 

 

   

 

 

     

Balance as of March 31 2013

    16,348      $ 3.31        7.18      $ 2,086   
 

 

 

   

 

 

   

 

 

   

 

 

 

Vested and expected to vest as of March 31, 2013

    15,089      $ 3.32        7.03      $ 2,065   
 

 

 

   

 

 

   

 

 

   

 

 

 

Exercisable as of March 31, 2013

    8,625      $ 3.41        5.88      $ 1,814   
 

 

 

   

 

 

   

 

 

   

 

 

 
Summary of Restricted Stock Units Activity

Restricted stock unit activity under our stock-based compensation plans during the three months ended March 31, 2013 was as follows (in thousands except per share amounts):

 

     Number
of
Shares
    Weighted-Average
Grant-Date  Fair

Value
 

Balance as of December 31, 2012

     1,755      $ 4.23   

Granted

     —          —     

Vested

     —          —     

Forfeited or expired

     (30     4.22   
  

 

 

   

 

 

 

Balance as of March 31, 2013

     1,725      $ 4.23   
  

 

 

   

 

 

 
Fair Value-Based Measurements and Weighted-Average Assumptions

The fair value-based measurements and weighted-average assumptions used in the calculations of these measurements are as follows:

 

     Stock Options     Employee Stock Purchase Plan  
     Three Months Ended
March 31,
    Three Months Ended
March 31,
 
     2013     2012     2013     2012  

Weighted-average fair value

   $ 2.70      $ 3.27      $ 1.46      $ 3.15   

Risk-free interest rate

     1.1     0.5     0.2     0.2

Expected life (in years)

     5.8        4.0        1.3        1.3   

Volatility

     1.4        1.6        0.7        1.6   
Stock-Based Compensation Expense

The components of stock-based compensation expense were (in thousands):

 

     Three Months Ended
March 31,
 
     2013      2012  

Research and development

   $ 1,323       $ 803   

General and administrative

     2,943         1,519   
  

 

 

    

 

 

 

Total

   $ 4,266       $ 2,322