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Stockholders' Equity (Tables) | 9 Months Ended
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Sep. 30, 2013
Option Activity under Stock-Based Compensation Plans | Option activity under our stock-based compensation plans during the nine months ended September 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 |  | 5,542 |  |  |  | 2.7 1 |  |  |  |  |  |  |  |  |
Options exercised |  | (74 | ) |  |  | 1.41 |  |  |  |  |  |  |  |  |
Options cancelled: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Options forfeited (unvested) |  | (2,028 | ) |  |  | 3.3 3 |  |  |  |  |  |  |  |  |
Options cancelled (vested) |  | (38 1 | ) |  |  | 3.56 |  |  |  |  |  |  |  |  |
Balance as of September 30, 2013 |  | 16,865 |  |  | $ |  |  | 3.1 7 |  |  |  | 5.35 |  |  | $ |  |  | 310 |
Vested and expected to vest as of September 30, 2013 |  | 16,272 |  |  | $ |  |  | 3.18 |  |  |  | 4.97 |  |  | $ |  |  | 310 |
Exercisable as of September 30, 2013 |  | 10,97 7 |  |  | $ |  |  | 3.3 5 |  |  |  | 3.37 |  |  | $ |  |  | 307 |
Summary of Restricted Stock Units Activity | Restricted stock unit activity under our stock-based compensation plans during the nine months ended September 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 |  | 250 |  |  |  | 1.23 |
Vested |  | — |  |  |  | — |
Forfeited or expired |  | (230 | ) |  |  | 4.2 3 |
Balance as of September 30, 2013 |  | 1,775 |  |  | $ |  | 3.81 |
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 September 30, |  |  | Nine Months Ended September 30, |  |  | Nine Months Ended September 30, |
| 2013 |  |  | 2012 |  |  | 2013 |  |  | 2012 |  |  | 2013 |  |  | 2012 |
Weighted-average fair value | $ |  | 1.15 |  |  | $ |  | 3.34 |  |  | $ |  | 2.43 |  |  | $ |  | 3.30 |  |  | $ |  | 0.93 |  |  | $ |  | 3.80 |
Risk-free interest rate |  | 1.9 |  | % |  |  | 0.6 |  | % |  |  | 1.1 |  | % |  |  | 0.5 |  | % |  |  | 0.2 |  | % |  |  | 0.2 |  | %
Expected life (in years) |  | 5.6 |  |  |  | 4.0 |  |  |  | 5.9 |  |  |  | 4.0 |  |  |  | 1.3 |  |  |  | 1.0 |
Volatility |  | 1.5 |  |  |  | 1.6 |  |  |  | 1.4 |  |  |  | 1.6 |  |  |  | 0.8 |  |  |  | 1.6 |
Stock-Based Compensation Expense | The components of stock-based compensation expense were (in thousands):
| Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
--- | --- | --- | --- | --- | ---
| 2013 |  |  | 2012 |  |  | 2013 |  |  | 2012 |
Research and development | $ |  | 1,001 |  |  | $ |  | 824 |  |  | $ |  |  | 3,351 |  |  | $ |  | 2,565 |
General and administrative |  | 1,844 |  |  |  | 1,079 |  |  |  | 7,496 |  |  |  | 3,729 |
Total | $ |  | 2,845 |  |  | $ |  | 1,903 |  |  | $ |  |  | 10,847 |  |  | $ |  | 6,294 |

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- Definition Tabular disclosure of the following for fully vested share options (or share units) and share options expected to vest at the date of the latest statement of financial position: the number, weighted-average exercise price (or conversion ratio), aggregate intrinsic value (except for nonpublic entities), and weighted-average remaining contractual term of options (or share units) outstanding. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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