STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2016

STOCK-BASED COMPENSATION

Schedule of stock-based compensation expense included in the consolidated statements of operations

	Year Ended December 31,
(In thousands)	2016		2015		2014
Research and development	$	632	$	1,036	$	2,781
General and administrative		7,665		5,837		12,980
Stock-based compensation from continuing operations		8,297		6,873		15,761
Stock-based compensation from discontinued operations		—		—		11,629
Total stock-based compensation expense	$	8,297	$	6,873	$	27,390

Schedule of stock-based compensation expense included in the consolidated statements of operations by award type

	Year Ended December 31,
(In thousands)	2016		2015		2014
Stock options	$	632	$	789	$	4,658
RSUs		1,920		2,492		4,564
RSAs		3,492		2,850		7,575
Performance-based RSUs		—		—		3
Performance-based RSAs		1,293		613		10,580
Market-based RSUs		112		—		—
Market-based RSAs		693		—		—
ESPP		155		129		10
Total stock-based compensation expense	$	8,297	$	6,873	$	27,390

Schedule of unrecognized stock-based compensation cost, net of expected forfeitures for awards expected to vest, including performance-contingent RSAs for which the performance milestones were determined to be probable of achievement, and the estimated weighted-average amortization period, using the straight-line attribution method

(In thousands)	Unrecognized Compensation Cost		Weighted- Average Amortization Period (Years)
Stock options	$	899		1.5
RSUs		1,539		1.1
RSAs		8,076		2.6
Performance-based RSAs		242		0.9
Market-based RSUs		156		1.4
Market-based RSAs		1,000		1.5
Total stock-based compensation expense	$	11,912

Summary of equity award activity under the 2012 plan and prior plans

(In thousands, except per share data)	Number of outstanding options			Weighted- Average Exercise Price of Outstanding Options		Number of outstanding RSUs and PSUs			Weighted- Average Fair Value per Share at Grant		Number of outstanding RSAs and PSAs			Weighted- Average Fair Value per Share at Grant
Balance as of December 31, 2015		4,262		$	23.00		459		$	18.34		1,305		$	18.00
Granted		—			—		237			11.32		645			10.36
Exercised		(19	)		9.09		—			—		—			—
Released RSUs/RSAs		—			—		(269	)		16.93		(809	)		17.86
Forfeited		(1,343	)		21.65		(14	)		16.75		(16	)		21.61
Balance as of December 31, 2016		2,900			23.72		413			15.29		1,125			13.67

Schedule of weighted-average assumptions used to estimate the fair value of stock options granted and employee stock purchase plan issuances

	Year Ended December 31, 2014
Employee stock options(1)
Risk-free interest rate	1.6% - 2.1%
Expected term (in years)	5 - 6
Volatility	52% - 60%
Dividend yield	3% - 4%
Weighted-average estimated fair value of stock options granted	$15.63

(1)     There were no stock options granted for the years ended December 31, 2016 and 2015.

	Year Ended December 31,
	2016	2015	2014
Employee stock purchase plan issuances
Risk-free interest rate	0.4% - 1.0%	0.1% - 0.9%	0.1% - 0.5%
Expected term (in years)	0.5 - 2	0.5 - 2	0.5 - 2
Volatility	39% - 66%	44% - 69%	43% - 55%
Dividend yield	0%	0% - 6%	8%
Weighted-average estimated fair value of ESPP shares granted	$4.47	$4.52	$4.49