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Share-Based Compensation Plans
 3 Months Ended
Jan. 31, 2012
Share-Based Compensation Plans [Abstract]  
Share-Based Compensation Plans

Note 9. Share-Based Compensation Plans

We have shareholder approved equity incentive plans and a shareholder approved Section 423 Stock Purchase Plan (the “ESPP”). We account for stock awards to employees and non-employee directors under the fair value method. We determine the fair value of stock options at the grant date using the Black-Scholes valuation model. The model requires us to make estimates and assumptions regarding the expected life of the award, the risk-free interest rate, the expected volatility of our common stock price and the expected dividend yield. The fair value of restricted stock awards (“RSA”) is based on the common stock price on the date of grant. The fair value of stock awards is amortized to expense over the vesting period, generally four years.

 

Share-based compensation reflected in the consolidated statements of operations for the three months ended January 31, 2011 and 2010 were as follows:

 

                 
    Three Months  Ended
January 31,		  
        2012             2011      

Cost of product sales and revenues

   $ 139     $ 143  

Cost of research and development contracts

     22       19  

General and administrative expense

     297       406  

Research and development expense

     83       212  
   

 

 

    

 

 

  

Total share-based compensation

   $ 541     $ 780  
   

 

 

    

 

 

  

The following table summarizes stock option activity for the three months ended January 31, 2012:

 

                 
    Number of
options		     Weighted
average
option  price ($)		  

Outstanding at October 31, 2011

     3,320,558       8.25  

Granted

     —         —    

Cancelled

     (303,975 )      11.96  
   

 

 

          

Outstanding at January 31, 2012

     3,016,583       7.88  
   

 

 

          

As of January 31, 2012, there were 1,788,381 RSAs outstanding with a weighted average per share fair value of $2.12. There were 35,122 RSA’s granted during the three months ended January 31, 2012 and forfeitures totaled 37,247 during this period.

For the three months ended January 31, 2012, 92,668 shares were issued under the ESPP at a per share cost of $0.91. There were 905,392 shares of common stock reserved for issuance under the ESPP as of January 31, 2012.