Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2014

Stock-Based Compensation

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

	Three Months Ended September 30,				Nine Months Ended September 30,
(In thousands)	2014		2013		2014		2013
Research and development	$	1,357	$	118	$	2,589	$	426
General and administrative	3,375		1,850		11,795		5,445
Stock-based compensation expense from continuing operations	4,732		1,968		14,384		5,871
Stock-based compensation from discontinued operations	—		4,478		11,629		13,833
Total stock-based compensation expense	$	4,732	$	6,446	$	26,013	$	19,704

Schedule of weighted-average assumptions used to estimate the fair value of stock options granted

	Three Months Ended September 30,						Nine Months Ended September 30,
	2014			2013			2014			2013
Employee stock options
Risk-free interest rate	1.97		%	1.68%-2.02		%	1.64%-2.05		%	0.76%-2.02		%
Expected term (in years)	6			6			5-6			5-6
Volatility	58		%	60		%	52%-60		%	58%-60		%
Dividend yield	4		%	—		%	4		%	—		%
Weighted-average estimated fair value of stock options granted	$	13.23		$	21.63		$	15.92		$	18.11