STOCK COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2012

Summary of Stock Option Activity

The Company’s stock option activity consisted of the following as of the dates indicated:

	For the Year Ended December 31,
	2012					2011					2010
	Shares			Weighted Average Exercise Price		Shares			Weighted Average Exercise Price		Shares			Weighted Average Exercise Price
Options outstanding at beginning of year		2,417,659		$	11.18		1,415,009		$	12.84		1,488,802		$	16.74
Granted		1,269,470			12.92		1,595,375			9.18		601,228			9.48
Exercised		(371,353	)		10.18		(25,291	)		6.54		(283,605	)		7.08
Canceled or expired		(793,254	)		12.59		(567,434	)		9.90		(391,416	)		26.52
Options outstanding at end of year		2,522,522		$	11.76		2,417,659		$	11.18		1,415,009		$	12.84
Exercisable at end of year		615,394		$	12.71		742,211		$	15.60		653,253		$	17.58
Vested at December 31, 2012 and expected to vest		2,343,086		$	11.73

	Aggregate Intrinsic Value		Weighted Average Remaining Contractual Life (Years)
Options outstanding at end of year	$	36,252,000		8.6
Exercisable at end of year	$	8,870,000		6.9
Vested at December 31, 2012 and expected to vest	$	33,792,000		8.6

Assumptions for Measuring Fair Values of Stock Options Granted

The fair values of stock options granted during the periods presented were measured on the date of grant using the Black-Scholes option-pricing model, with the following assumptions:

	Year Ended December 31,
	2012		2011		2010
Risk-free interest rate		0.6% - 1.1%		0.9% - 2.4%		1.4% - 3.8%
Expected dividend yield		0%		0%		0%
Expected lives		4.8 - 5.3 years		5.2 - 8.9 years		5.3 - 8.0 years
Expected volatility		79.7% - 108.6%		78.2% - 81.6%		82.5% - 90.3%

Restricted Stock Activity

The following table sets forth restricted stock activity for the years shown:

	For the Year Ended December 31,
	2012					2011					2010
	Shares			Weighted Average Grant Date Fair Value		Shares			Weighted Average Grant Date Fair Value		Shares			Weighted Average Grant Date Fair Value
Restricted Stock Awards outstanding at beginning of year		5,000		$	8.46		3,333		$	7.80		50,000		$	6.54
Granted		4,998			10.08		5,000			8.46		3,333			7.80
Vested		(5,000	)		8.46		(3,333	)		7.80		(33,333	)		6.54
Forfeited or canceled		0			0		0			0		(16,667	)		6.60
Restricted Stock Awards outstanding at end of year		4,998		$	10.08		5,000		$	8.46		3,333		$	7.80

Restricted Stock Unit Activity

The following table sets forth restricted stock unit activity for the period shown:

	For the Year Ended December 31, 2012
	Shares			Weighted Average     Grant Date Fair Value
Restricted Stock Awards outstanding at beginning of year		0		$	0
Granted		39,877			6.28
Vested		0			0
Forfeited or canceled		(1,617	)		5.40
Restricted Stock Awards outstanding at end of year		38,260		$	6.32

Stock Appreciation Rights Activity

The following table sets forth stock appreciation rights activity for the period shown:

	For the Year Ended December 31, 2012
	Shares		Weighted Average     Grant Date Fair Value
Stock Appreciation Rights outstanding at beginning of year		0	$	0
Granted		170,000		13.81
Vested		0		0
Forfeited or canceled		0		0
Stock Appreciation Rights outstanding at end of year		170,000	$	13.81

Summary of Stock Based Compensation Expense Recognized in Statement of Operations

A summary of the stock based compensation expense recognized in the statement of operations and comprehensive loss is as follows:

	Year Ended December 31,
	2012		2011		2010
	(in thousands)
Research and development	$	1,173	$	1,279	$	970
General and administrative		1,905		1,850		2,199
Total	$	3,078	$	3,129	$	3,169