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Stock-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2013
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Stock-Based Compensation Expense

Our stock-based compensation expense for the three and six months ended June 30 was as follows:

 

     Three months ended
June 30,		     Six months ended
June 30,		  
     2013     2012     2013     2012  

Research and development expense

    $ 373,652      $ 320,303      $ 717,363      $ 652,177   

Selling, general and administrative expense

      375,989        403,142        718,860        807,813   
  

 

 

    

 

 

    

 

 

    

 

 

  

Total stock-based compensation

    $ 749,641      $ 723,445      $ 1,436,223      $ 1,459,990   
  

 

 

    

 

 

    

 

 

    

 

 

  

Effect on basic and diluted net loss per share

    $ (0.02 )    $ (0.03 )    $ (0.04 )    $ (0.06 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  
Stock Option Activity

A summary of our stock option activity for the three months ended June 30, 2013 is as follows:

 

     Number of options     Weighted-average
exercise price ($) per share		  

Balance at March 31, 2013

      443,926        19.70   

Granted

      —         —    

Exercised

      (2,086 )      1.00   

Cancelled

      (1,714 )      4.78   
  

 

 

    

Outstanding options at June 30, 2013

      440,126        19.85   
  

 

 

    
Summary of Changes in Unvested Options

A summary of changes in unvested options for the three months ended June 30, 2013 is as follows:

 

    Number of options     Weighted-average
exercise price ($) per share		     Weighted-average
grant
date fair value ($) per option		  

Unvested options at March 31, 2013

     51,466        10.61        8.45   

Granted

     —         —         —    

Vested

     (11,896 )      11.40        9.14   

Cancelled

     (473 )      10.76        7.82   
 

 

 

      

Unvested options at June 30, 2013

     39,097        10.37        8.25   
 

 

 

      
Summary of Changes in Unvested Restricted Stock Units

A summary of changes in unvested restricted stock units for the three months ended June 30, 2013 is as follows:

 

     Number of RSUs     Weighted-average
grant
date fair value ($) per RSU		  

Unvested restricted stock units at March 31, 2013

      1,236,982        2.38   

Granted(1)

      2,286,765        1.81   

Vested

      (153,131 )      9.04   

Cancelled

      (20,000 )      0.72   
  

 

 

    

Balance unvested at June 30, 2013

      3,350,616        1.70   
  

 

 

    

 

(1) 11,765 of these restricted stock units vest and convert into shares of our common stock on the date of grant. 25,000 of these restricted stock units vest and convert into shares of our common stock after one year from the date of grant. 2,250,000 of these restricted stock units will vest and convert into shares of our common stock over a four year period from the date of grant; one-fourth of the award will vest on each grant date anniversary following the grant.
Summary of Changes in SARs

A summary of the changes in SARs for the three months ended June 30, 2013 is as follows:

 

     Number of SARs  

Outstanding at March 31, 2013

      110,593   

Granted

      —     

Exercised

      —     

Forfeited and expired

      —     
  

 

 

  

Outstanding SARs at June 30, 2013

      110,593   
  

 

 

  

SARs exercisable at June 30, 2013

      110,593