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Note 5 - Stock-Based Compensation
 9 Months Ended
Sep. 30, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

(5) STOCK-BASED COMPENSATION


The following table summarizes the stock-based compensation expense for all awards (in thousands, except per share amounts):


   

Three Months Ended

September 30,

   

Nine Months Ended

September 30,

 
   

2013

   

2012

   

2013

   

2012

 
                                 

Operating expenses:

                               

Research and development

  $ 544     $ 397     $ 1,088     $ 1,061  

General and administrative

    3,551       1,583       7,245       2,712  

Total stock-based compensation expense

  $ 4,095     $ 1,980     $ 8,333     $ 3,773  
                                 

Impact on basic and diluted net loss per common share

  $ 0.01     $ 0.01     $ 0.03     $ 0.02  

In the three months ended September 30, 2013, we recorded additional stock-based compensation expense as a result of accelerated vesting of stock options in connection with the resignation of our former chief executive officer.


The following table summarizes stock option activity for the nine months ended September 30, 2013:


   

Shares (in thousands)

   

Weighted- Average Exercise

Price

   

Weighted-

Average

Remaining Contractual Term

(Years)

 
                         

Outstanding at January 1, 2013

    86,478     $ 0.42       8.2  

Granted

    76,735     $ 0.40          

Exercised

    (4,323 )   $ 0.26          

Expired and forfeited

    (33,498 )   $ 0.47          

Outstanding at September 30, 2013

    125,392     $ 0.40       8.0  

Employee Stock Purchase Plan


We adopted an Employee Stock Purchase Plan (Purchase Plan) in 1997. Qualified employees may elect to have a certain percentage of their salary withheld to purchase shares of our common stock under the Purchase Plan. In June 2011, our stockholders authorized an increase in the number of shares reserved for issuance under the Purchase Plan by 500,000, for a total of 1,000,000 shares reserved at September 30, 2013. The purchase price per share is equal to 85% of the fair market value of the stock on specified dates. Sales under the Purchase Plan during the nine months ended September 30, 2013 and 2012 consisted of 80,027 and 58,571 shares at an average price of $0.31 and $0.21, respectively. Shares available for future purchase under the Purchase Plan were 365,674 at September 30, 2013.