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Stock Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2012
Stock Based Compensation [Abstract]  
Summarization of stock-based compensation
The following table summarizes stock-based compensation for the three and six months ended June 30, 2012 and 2011:
 
   
Three months ended
June 30,
  
Six months ended
June 30,
 
   
2012
  
2011
  
2012
  
2011
 
Research and development
 $33,000  $92,000  $74,000  $179,000 
Selling, general and administrative
  75,000   150,000   148,000   244,000 
Stock-based compensation expense included in operating expense
 $108,000  $242,000  $222,000  $423,000 
Weighted average Black-Scholes fair value assumptions used to value grants
Our weighted average Black-Scholes fair value assumptions used to value the 2012 and 2011 first six months grants are as follows:

 
 
6/30/12
 
 
6/30/11
 
Expected life(b)
 
5.5 yrs
 
 
6.04 yrs
 
Risk free interest rate
 
 
0.6
%
 
 
2.0
%
Expected volatility(a)
 
 
96
%
 
 
119
%
Expected dividend yield
 
 
0.0
%
 
 
0.0
%
 
(a)
Reflects movements in our stock price over the most recent historical period equivalent to the expected life.
(b)
Based on the simplified method.