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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Sep. 30, 2016

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of the calculation of basic and diluted net (loss) income per share

		Three Months Ended September 30,						Nine Months Ended September 30,
(In thousands, except share and per share data)		2016			2015			2016			2015
Net (loss) income		$	(3,576	)	$	27,185		$	(21,055	)	$	8,514
Weighted-average shares:
Basic		159,140,254			158,151,747			159,011,741			157,922,075
Effect of dilutive securities:
Stock options and restricted stock awards		—			4,517,934			—			4,526,818
Diluted		159,140,254			162,669,681			159,011,741			162,448,893
Net (loss) income per share:
Basic		$	(0.02	)	$	0.17		$	(0.13	)	$	0.05
Diluted		$	(0.02	)	$	0.17		$	(0.13	)	$	0.05

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)		2016			2015			2016			2015
Research and development		$	352		$	462		$	1,038		$	1,696
Restructuring charges		—			5			—			307
General and administrative		1,775			1,597			5,225			4,450
Stock-based compensation expense included in operating expenses		$	2,127		$	2,064		$	6,263		$	6,453

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

		Nine Months Ended September 30,
		2016		2015
Dividend yield		0%		0%
Expected volatility range		0.888 to 0.890		0.874 to 0.884
Risk-free interest rate range		1.21% to 1.38%		1.68% to 1.71%
Expected term		5.5 yrs		5.5 yrs

Schedule of assumptions used to estimate the fair value of employee stock purchases under the purchase plan

		Nine Months Ended September 30,
		2016		2015
Dividend yield		0%		0%
Expected volatility range		0.641 to 0.684		0.654 to 1.392
Risk-free interest rate range		0.28% to 0.45%		0.11% to 0.28%
Expected term range		6 – 12 mos		6 – 12 mos

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Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
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-Section 50
-Paragraph 2
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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of employee stock purchase plans, including, but not limited to: (a) expected term, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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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

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