Share-Based Compensation

6 Months Ended

Jun. 30, 2011

(10) Share-based Compensation

For the three-month and six- month periods ended June 30, 2011 and 2010 and for the period from Inception through June 30, 2011, the Company recognized the following non-cash, share-based compensation expense in the consolidated statement of operations (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,				Period from December 17, 2001 (date of inception) to
	2011		2010		2011		2010		June 30, 2011
Research and Development	$	30	$	33	$	60	$	62	$	439
Selling, General and Administrative		45		86		93		162		1,301
Restructuring		—		—		—		—		387

Total	$	75	$	119	$	153	$	224	$	2,127

The fair values of employee stock options granted in the three- and six-month periods ended June 30, 2011 and 2010 were estimated at the date of grant using the Black-Scholes model with the following assumptions:


	Three Months Ended June 30,					Six Months Ended June 30,
	2011			2010		2011			2010
Expected term		5.8 years			*		5.8 years			5.7 years
Expected volatility		110	%		*		110	%		85	%
Risk-free interest rate		2.20	%		*		2.20	%		2.70	%
Expected dividend yield		0	%		*		0	%		0	%
Weighted-average grant date fair value per share	$	1.83			*	$	1.83		$	2.01

*	No options were granted during the three months ended June 30, 2010.

Stock option transactions for the six-month period ended June 30, 2011 under all plans are as follows:


	# of Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value
Options outstanding at December 31, 2010		953,238		$	31.87		7.06	$	764,622
Changes during the period:
Granted		164,700			2.24
Exercised		(500	)		1.83
Forfeited, cancelled or expired		(196,614	)		137.45

Options outstanding at June 30, 2011		920,824		$	4.05		7.29	$	160,167

Options exercisable at June 30, 2011		574,181		$	4.75		6.40	$	160,167
Options vested and expected to vest		899,314		$	4.08		7.22	$	160,167