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SHARE-BASED COMPENSATION (Tables)
6 Months Ended
Jun. 30, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Share-Based Compensation Expense Recognized
Our share-based compensation expense recognized in the Company’s results of operations for the period is shown below (in thousands):
 
 
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
 
 
2013
 
2012
 
2013
 
2012
 
Stock options
 
 
 
 
 
 
 
 
 
 
 
 
 
Research and development
 
$
81
 
$
91
 
$
162
 
$
182
 
General and administrative
 
 
234
 
 
333
 
 
468
 
 
666
 
Total
 
$
315
 
$
424
 
$
630
 
$
848
 
Schedule of Share-based Compensation, Stock Options, Activity
Our stock option award activity during the six months ended June 30, 2013 and 2012 is shown below:
 
 
 
Six Months Ended
June 30,
 
 
 
2013
 
2012
 
 
 
Number
of
Options
(000’s)
 
Weighted
Average
Exercise
Price
 
Number
of
Options
(000’s)
 
Weighted
Average
Exercise
Price
 
Outstanding, beginning
 
 
3,296
 
$
5.50
 
 
3,556
 
$
6.41
 
Granted
 
 
75
 
 
2.32
 
 
105
 
 
3.48
 
Exercised
 
 
(14)
 
 
1.30
 
 
(23)
 
 
1.30
 
Forfeited or expired
 
 
(15)
 
 
2.32
 
 
(703)
 
 
8.44
 
Outstanding, ending
 
 
3,342
 
$
5.46
 
 
2,935
 
$
5.86
 
Options exercisable
 
 
2,970
 
$
5.80
 
 
2,507
 
$
6.26
 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
Assumptions used in the Black-Scholes model to determine fair value for the stock option awards granted during the period are show below:
 
 
 
Six Months Ended 
June 30,
 
 
 
2013
 
 
2012
 
Dividend yield
 
 
0.0
%
 
 
0.0
%
Average risk-free interest rate
 
 
1.86
%
 
 
1.97
%
Average volatility
 
 
114
%
 
 
114
%
Expected forfeitures
 
 
0.0
%
 
 
0.0
%
Expected holding period
 
 
10 years
 
 
 
10 years
 
Weighted average grant date fair value
 
$
2.17
 
 
$
3.25
 
Schedule of Share-based Compensation, Restricted Stock Units Award Activity
A summary of the RSU Plan as of June 30, 2013 and 2012 and for the six months then ended consisted of the following (in thousands):
 
 
 
Six Months Ended
June 30,
 
 
 
2013
 
2012
 
 
 
Number
of RSUs
 
Number of
Vested
RSUs
 
Number
of RSUs
 
Number of
Vested
RSUs
 
Outstanding, beginning
 
 
1,658
 
 
1,658
 
 
2,487
 
 
2,487
 
Granted
 
 
-
 
 
-
 
 
-
 
 
-
 
Distributed
 
 
(829)
 
 
(829)
 
 
(829)
 
 
(829)
 
Vested
 
 
-
 
 
-
 
 
-
 
 
-
 
Forfeited or expired
 
 
-
 
 
-
 
 
-
 
 
-
 
Outstanding, ending
 
 
829
 
 
829
 
 
1,658
 
 
1,658