XML 20 R25.htm IDEA: XBRL DOCUMENT v2.4.0.6
NOTE 8 STOCKHOLDERS' EQUITY (Tables)
12 Months Ended
Dec. 31, 2012
Equity [Abstract]  
Stock option valuation assumptions
   2012  2011  2010
Expected term (years):               
Stock options   5.51    5.00    6.00 
Employee Stock Purchase Plan   .49    .50    .50 
Risk-free interest rate:               
Stock options   0.8%   1.6%   2.6%
Employee Stock Purchase Plan   0.2%   0.8%   0.2%
Volatility:               
Stock options   106%   106%   164%
Employee Stock Purchase Plan   0.8%   142%   92%
Stock-based compensation expense (in thousands, except per share amounts)
For the Years Ended December 31,  2012  2011      2010
          
Research and development  $1,585   $819   $398 
General and administrative   4,147    1,071    1,351 
                
Total  $5,732   $1,890   $1,749 
                
Impact on basic and diluted net loss per common share  $0.02   $0.02   $0.04 
Stock option activity
   2012  2011  2010
         Weighted-  Aggregate            
      Weighted-  Average  Intrinsic     Weighted-     Weighted-
      Average  Remaining  Value as of     Average     Average
      Exercise  Contractual  December 31,     Exercise     Exercise
   Shares  Price  Term (Years)  2012  Shares  Price  Shares  Price
                         
Outstanding at beginning of year   50,106,287   $0.31              3,217,240   $1.49    3,092,417   $1.91 
Granted   37,485,000    0.58              48,070,000    0.26    1,087,700    1.45 
Exercised   —      —                —      —      (37,786)   1.24 
Expired or Forfeited   (1,308,779)   0.74              (1,180,953)   1.63    (925,091)   2.85 
Outstanding at end of year   86,282,508    0.42    8.20   $14,555,918    50,106,287    0.31    3,217,240    1.49 
                                         
Options exercisable at year end   22,646,940    0.38    7.13   $5,137,054    6,740,497    0.53    1,316,567    1.72 
                                         
Options vested or expected to vest   85,471,879    0.42    8.20   $14,466,053    49,434,997    0.31           
                                         
Shares available for future grant at year end   20,471,897                   44,261,608         2,039,549      
                                         
Weighted-average fair value of stock options granted during the year       $0.46                  $0.21        $1.39 
Stock options outstanding
  OPTIONS OUTSTANDING   OPTIONS EXERCISABLE
      Weighted-         
      Average  Weighted-     Weighted-
      Remaining  Average     Average
Range of  Number  Contractual  Exercise  Number  Exercise
Exercise Prices  Outstanding   Life (Years)   Price   Exercisable   Price
                
 $0.19 - $0.19    162,500    5.61   $0.19    91,667   $0.19 
 $0.26 - $0.26    47,022,303    7.33    0.26    17,200,939    0.26 
 $0.32 - $0.53    11,285,000    9.71    0.47    546,875    0.34 
 $0.58 - $0.61    2,046,436    4.93    0.59    1,764,145    0.59 
 $0.62 - $0.62    10,400,000    9.79    0.62    —      —   
 $0.63 - $0.63    10,000,000    9.46    0.63    1,708,334    0.63 
 $0.64 - $6.96    5,355,769    8.59    0.84    1,324,480    1.36 
 $7.00 - $7.00    5,000    0.67    7.00    5,000    7.00 
 $9.80 - $9.80    3,000    1.04    9.80    3,000    9.80 
 $11.756 - $11.756    2,500    1.40    11.76    2,500    11.76 
                            
 $0.19 - $11.756    86,282,508    8.20   $0.42    22,646,940   $0.38 
Warrants outstanding

 

 

 

  Number of Shares Exercisable  Exercise Price  Expiration Date
          
Issued to private placement investors in October 2009   3,977,270   $0.88   1/7/2015
Issued to private placement investors in July 2011   80,000,005   $0.18   7/1/2016
Other   400,000   $0.69   8/1/2015
Total warrants outstanding at December 31, 2012   84,377,275   $0.21*   
              
* Average exercise price             
Common shares reserved for future issuance

 

   No. of Shares
    
Issuance upon exercise of outstanding stock options   86,282,508 
Issuance of future grants under stock option plans   20,471,897 
Issuance of future grants under employee stock purchase plan   445,701 
Issuance of common stock related to convertible notes*   197,686,842 
Issuance upon exercise of warrants   84,377,275 
      
Total   389,264,223 
      
      
* Assumes all interest payments are paid-in-kind through the maturity date.