Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2015

Stock-Based Compensation

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

	Three Months Ended September 30,				Nine Months Ended September 30,
(In thousands)	2015		2014		2015		2014
Research and development	$	220	$	1,357	$	687	$	2,589
General and administrative	1,248		3,375		4,536		11,795
Stock-based compensation from continuing operations	1,468		4,732		5,223		14,384
Stock-based compensation from discontinued operations	—		—		—		11,629
Total stock-based compensation expense	$	1,468	$	4,732	$	5,223	$	26,013

Schedule of assumptions used to estimate the fair value of employee stock options granted

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