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Stock Incentive Plans and Stock Based Compensation (Tables)

12 Months Ended

Dec. 31, 2011

Stock Option Activity

The following table summarizes all stock option activity for the year ended December 31, 2011:

		Number of Shares				Weighted Average Exercise Price				Weighted Average Remaining Contractual Term				Aggregate Intrinsic Value
		(in thousands, except for per share amounts)
Outstanding January 1, 2011			10,028			$	2.69
Granted			4,445				10.53
Cancelled/Expired			(328	)			16.43
Exercised			(2,274	)			2.27
Outstanding, December 31, 2011			11,871			$	5.33				8.68 years			$	40,475
Exercisable, December 31, 2011			3,495			$	2.69				8.09 years			$	17,972
Vested and Expected to Vest, December 31, 2011			11,787			$	5.32				8.68 years			$	40,250
Available for future grant at December 31, 2011			2,231

Stock-Based Compensation Expense Related to Option Awards

The following table presents the stock-based compensation expense related to option awards for the period ended December 31:

		2011				2010				2009
		(in thousands)
Research and development		$	1,464			$	1,534			$	1,481
General and administrative			7,830				3,673				1,378
Stock-based compensation expense		$	9,294			$	5,207			$	2,859

Assumptions Used to Estimate Fair Value of Share-Based Payment Awards

For 2011, 2010 and 2009, the Company used the following assumptions to estimate the fair value of share-based payment awards:

		2011		2010		2009
Risk free interest rate		2.03% - 2.56%		1.5% - 3.1%		2.5% - 3.0%
Expected dividend yield		0.00%		0.00%		0.00%
Expected option life (years)		6.25		5.75 - 6.25		5.75 - 6.25
Expected volatility		105% - 112%		105% - 110%		105% - 110%

X

- Definition

Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.

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- Definition

Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year.

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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.

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