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Stockholders' Equity (Tables)
6 Months Ended
Jun. 30, 2013
Option Activity under Stock-Based Compensation Plans

10,000,000.Option activity under our stock-based compensation plans during the six months ended June 30, 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

     5,421        2.74         

Options exercised

     (74     1.41         

Options cancelled:

          

Options forfeited (unvested)

     (1,350     3.32         

Options cancelled (vested)

     (181     4.09         
  

 

 

   

 

 

       

Balance as of June 30, 2013

     17,622      $ 3.19         6.27       $ 263   
  

 

 

   

 

 

    

 

 

    

 

 

 

Vested and expected to vest as of June 30, 2013

     16,754      $ 3.20         6.12       $ 263   
  

 

 

   

 

 

    

 

 

    

 

 

 

Exercisable as of June 30, 2013

     10,503      $ 3.37         4.46       $ 263   
  

 

 

   

 

 

    

 

 

    

 

 

 
Summary of Restricted Stock Units Activity

Restricted stock unit activity under our stock-based compensation plans during the six months ended June 30, 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

     (95     4.25   
  

 

 

   

 

 

 

Balance as of June 30, 2013

     1,660      $ 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     Stock Options     Employee Stock
Purchase Plan
 
     Three Months Ended June 30,     Six Months Ended June 30,     Six Months Ended June 30,  
     2013     2012     2013     2012     2013     2012  

Weighted-average fair value

   $ 2.05      $ 3.34      $ 2.46      $ 3.30      $ 1.46      $ 3.80   

Risk-free interest rate

     0.9     0.6     1.0     0.5     0.2     0.2

Expected life (in years)

     6.0        4.0        5.9        4.0        1.3        1.0   

Volatility

     1.4        1.6        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 June 30,      Six Months Ended June 30,  
     2013      2012      2013      2012  

Research and development

   $ 1,027       $ 938       $ 2,350       $ 1,741   

General and administrative

     2,709         1,131         5,652         2,650   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total

   $ 3,736       $ 2,069       $ 8,002       $ 4,391