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Stock Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2014
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, 2014 and 2013:

   
Three months ended
June 30,
  
Six months ended
June 30,
 
   
2014
  
2013
  
2014
  
2013
 
Research and development
 $18,000  $10,000  $95,000  $19,000 
Selling, general and administrative
  174,000   241,000   892,000   309,000 
            Stock-based compensation expense included in operating expense
 $192,000  $251,000  $987,000  $328,000 
Valuation assumptions
Our weighted average Black-Scholes fair value assumptions used to value the grants in the first six months of 2014 are as follows:
 
     
   
6/30/14
 
Expected life(b)
 
5.5 yrs
 
Risk free interest rate
  1.65 %
Expected volatility(a)
  102 %
Expected dividend yield
  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.