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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Sep. 30, 2014

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of components of restricted cash

		September 30,			December 31,
(In thousands)		2014			2013
Certificate of deposit for unused equipment line of credit		$	—		$	530
Certificate of deposit for credit card purchases		265			265
		$	265		$	795

Summary of allocation of stock-based compensation expense included in operating expenses on condensed statements of operations related to share-based payment awards

		Three Months Ended September 30,						Nine Months Ended September 30,
(In thousands)		2014			2013			2014			2013
Research and development		$	653		$	483		$	1,932		$	1,394
Restructuring charges		—			—			—			28
General and administrative		1,356			739			3,820			2,034
Stock-based compensation expense included in operating expenses		$	2,009		$	1,222		$	5,752		$	3,456

Schedule of assumptions used to estimate the fair value of stock options granted

		Nine Months Ended September 30,
		2014		2013
Dividend yield		0%		0%
Expected volatility range		0.898 to 0.922		0.742 to 0.759
Risk-free interest rate range		1.64% to 1.92%		0.80% to 1.81%
Expected term		5.5 yrs		6 yrs

Schedule of assumptions used to estimate the fair value of employee stock purchases under the Purchase Plan

		Nine Months Ended September 30,
		2014		2013
Dividend yield		0%		0%
Expected volatility range		0.835 to 1.666		0.506 to 1.391
Risk-free interest rate range		0.06% to 0.15%		0.09% to 0.21%
Expected term range		6 – 12 mos		6 – 12 mos