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STOCK BASED COMPENSATION (Tables)
6 Months Ended
Jun. 30, 2012
STOCK BASED COMPENSATION  
Schedule of stock based compensation expense

 

 

 

 

For the three months
ended June 30,

 

For the six months
ended June 30,

 

 

 

2011

 

2012

 

2011

 

2012

 

 

 

($000s)

 

Research and development

 

41

 

16

 

90

 

33

 

General and administrative

 

164

 

93

 

365

 

178

 

Stock-based compensation costs before income taxes

 

205

 

109

 

455

 

211

 

 

Schedule of stock option activity

 

 

 

 

Options

 

Weighted
Average
Exercise
Price

 

Weighted
Average
Remaining
Contractual
Term
(years)

 

Aggregate
Intrinsic
Value

 

 

 

.

 

 

 

 

 

($000s)

 

Options outstanding at December 31, 2011

 

3,515,741

 

$

3.73

 

6.44

 

140

 

Granted

 

235,000

 

$

0.47

 

 

 

 

 

Exercised

 

(77,062

)

$

0.44

 

 

 

 

 

Expired

 

 

 

 

 

 

 

 

Cancelled / forfeited

 

(112,315

)

$

1.37

 

 

 

 

 

Options outstanding at June 30, 2012

 

3,561,364

 

$

3.66

 

6.10

 

23

 

Unvested at June 30, 2012

 

620,385

 

$

1.31

 

8.86

 

 

Vested and exercisable at June 30, 2012

 

2,940,979

 

$

4.16

 

5.51

 

23

 

 

Schedule of assumptions for stock option grants to employees and directors

 

 

 

 

For the six months
ended June 30,

 

 

 

2011

 

2012

 

Expected term

 

5 — 6 yrs.

 

6 yrs.

 

Risk free interest rate

 

1.47 — 2.29%

 

0.95%

 

Expected volatility

 

93 — 99%

 

98%

 

Expected dividend yield over expected term

 

 

 

Resulting weighted average grant fair value

 

$1.15

 

$0.36

 

 

Schedule of restricted stock activity

 

 

 

 

Restricted Stock

 

Weighted Average Grant
Date Value Per Share

 

Non-vested at December 31, 2011

 

11,450

 

$

0.44

 

Vested

 

(6,252

)

$

0.44

 

Non-vested at June 30, 2012

 

5,198

 

$

0.44

 

 

Schedule of restricted stock units activity

 

 

 

 

Restricted Stock Units

 

Weighted Average Grant
Date Value Per Share

 

Non-vested at December 31, 2011

 

255,175

 

$

0.80

 

Granted

 

85,974

 

$

0.55

 

Forfeited

 

(28,000

)

$

0.83

 

Vested

 

(9,378

)

$

0.44

 

Non-vested at June 30, 2012

 

303,771

 

$

0.74