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Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2013

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock-Based Compensation Expense

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

		Three months ended September 30,								Nine months ended September 30,
		2013				2012				2013				2012
Research and development expense		$	346,938			$	314,393			$	1,064,301			$	966,570
Selling, general and administrative expense			250,067				452,760				968,927				1,260,575
Total stock-based compensation		$	597,005			$	767,153			$	2,033,228			$	2,227,145
Effect on basic and diluted net loss per share		$	(0.01	)		$	(0.03	)		$	(0.05	)		$	(0.09	)

Stock Option Activity

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

		Number of options				Weighted-average exercise price ($) per share
Balance at June 30, 2013			440,126				19.85
Granted			—				—
Exercised			(723	)			1.00
Cancelled			(7,845	)			18.87
Outstanding options at September 30, 2013			431,558				19.90

Summary of Changes in Unvested Options

A summary of changes in unvested options for the three months ended September 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 June 30, 2013			39,097				10.37				8.25
Granted			—				—				—
Vested			(10,374	)			10.55				8.38
Cancelled			—				—				—
Unvested options at September 30, 2013			28,723				10.31				8.20

Summary of Changes in Unvested Restricted Stock Units

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

		Number of RSUs				Weighted-average grant date fair value ($) per RSU
Outstanding restricted stock units at June 30, 2013			3,350,616				1.70
Granted(1)			60,000				1.73
Vested and exercised			(30,334	)			3.26
Cancelled			(44,000	)			2.01
Outstanding restricted stock units at September 30, 2013			3,336,282				1.68

(1) 10,000 of these restricted stock units vest and convert into shares of our common stock after one year from the date of grant. 50,000 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 September 30, 2013 is as follows:

		Number of SARs
Outstanding at June 30, 2013			110,593
Granted			—
Exercised			—
Forfeited and expired			—
Outstanding SARs at September 30, 2013			110,593
SARs exercisable at September 30, 2013			110,593

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