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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jun. 30, 2015

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

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 June 30,						Six Months Ended June 30,
(In thousands)		2015			2014			2015			2014
Research and development		$	612		$	690		$	1,234		$	1,279
Restructuring charges		212			—			302			—
General and administrative		1,552			1,412			2,853			2,464

Stock-based compensation expense included in operating expenses		$	2,376		$	2,102		$	4,389		$	3,743

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

		Six Months Ended June 30,
		2015		2014
Dividend yield		0%		0%
Expected volatility range		0.874 to 0.884		0.898 to 0.922
Risk-free interest rate range		1.68% to 1.70%		1.64% to 1.92%
Expected term		5.5 yrs		5.5 yrs

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

		Six Months Ended June 30,
		2015		2014
Dividend yield		0%		0%
Expected volatility range		0.721 to 1.392		0.835 to 1.062
Risk-free interest rate range		0.11% to 0.25%		0.09% to 0.15%
Expected term range		6 – 12 mos		6 – 12 mos