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Share-based Compensation (Tables)
9 Months Ended
Sep. 30, 2013
Non-cash, Share-Based Compensation Expense

For the three and nine month periods ended September 30, 2013 and 2012 and for the period from Inception through September 30, 2013, the Company recognized the following non-cash, share-based compensation expense in the consolidated statement of operations (in thousands):

 

 

Three Months
Ended  September 30,

 

  

Nine Months
Ended September 30,

 

  

Period from
December 17,
2001 (date of
inception) to
September 30, 2013

 

 

2013

 

  

2012

 

  

2013

 

  

2012

 

  

Research and Development             

$

  7

  

  

$

  25

  

  

$

  36

  

  

$

  76

  

  

$

  626

  

Selling, General and Administrative             

 

  42

  

  

 

  49

  

  

 

  89

  

  

 

  167

  

  

 

  1,700

  

Restructuring Expense             

 

  

  

 

  

  

 

  

  

 

  

  

 

  387

  

Total             

$

  49

  

  

$

  74

  

  

$

  125

  

  

$

  243

  

  

$

  2,713

  

 

Summary of Stock Option Activities

Stock option transactions for the nine month period ended September 30, 2013 under all plans are as follows:

 

 

# of Options

 

 

Weighted
Average
Exercise Price

 

  

Weighted
Average
Remaining
Contractual
Term
(in years)

 

Options outstanding at December 31, 2012             

 

  144,019

  

 

$

  18.28

  

  

 

  4.91

  

Changes during the period:

 

 

 

 

 

 

 

  

 

 

 

Granted             

 

  731,535

  

 

 

  1.38

  

  

 

 

 

Exercised             

 

  

 

 

  

  

 

 

 

Forfeited, cancelled or expired             

 

(39,113

) 

 

 

  11.07

  

  

 

 

 

Options outstanding at September 30, 2013             

 

  836,441

  

 

$

  3.84

  

  

 

  9.39

  

 

 

 

 

 

 

 

 

 

 

 

 

Options exercisable at September 30, 2013             

 

  115,435

  

 

$

  18.08

  

  

 

  6.12

  

Options vested and expected to vest             

 

  721,216

  

 

$

  4.20

  

  

 

  9.31