STOCK OPTION PLANS (Tables)

6 Months Ended

Jun. 30, 2013

STOCK OPTION PLANS [Abstract]

Black-Scholes option-pricing model assumptions

Stock-based compensation expense was based on the Black-Scholes option-pricing model assuming the following:

Period*	Risk-free interest rate			Expected life of stock option	Annual volatility
Quarter ended May 31, 2012		0.89	%	5 years		124.00	%
Quarter ended June 30, 2013		0.92	%	5 years		77.83	%
* Dividend rate is 0% for all periods presented.

Employee and consultant stock-based compensation expense

Employee and consultant stock-based compensation expense has been included in the Condensed Consolidated Statements of Comprehensive Loss as follows:

	Three Months Ended				Six Months Ended
(In thousands)	June 30, 2013		May 31, 2012		June 30, 2013		May 31, 2012
Research and development	$	380	$	248	$	742	$	510
General and administrative		1,466		950		2,855		1,839
Total	$	1,846	$	1,198	$	3,597	$	2,349

Summary of the activity in stock option plan

A summary of the activity in the 2010 Equity Incentive Plan, the 2006 Equity Compensation Plan, as amended and the Company's other stock option plans, is as follows:

(In thousands, except per share amounts)	Option shares			Weighted- average exercise price		Exercisable		Weighted- average fair value of options granted
Outstanding at December 31, 2012		7,791		$	5.79		3,494	$	3.48
Granted		130			5.39		0		3.04
Exercised		(8	)		0.85		0		0.62
Canceled		(28	)		13.94		0		4.25
Outstanding at March 31, 2013		7,885			5.76		4,031		3.47
Granted		478			6.58		0		4.01
Exercised		0			0		0		0
Canceled		(27	)		20.70		0		4.73
Outstanding at June 30, 2013		8,336			5.76		4,525		3.55

Weighted-average intrinsic values of stock options

The weighted-average intrinsic values of stock options were as follows:

	Options outstanding and expected to vest for the quarter ended						Options exercisable for the quarter ended
(In thousands)	June 30, 2013			May 31, 2012			June 30, 2013			May 31, 2012
Intrinsic value		$	39,779		$	20,400		$	24,111		$	1,600
Number of options			8,336			5,800			4,525			3,700

Options outstanding under all of the entity's stock option plans

As of June 30, 2013, the options outstanding under all of the Company's stock option plans consisted of the following:

		Options outstanding						Options vested and exercisable
Range of exercise prices		Number of options outstanding and expected to vest (#, in thousands )		Weighted- average remaining contractual life (yrs.)		Weighted- average exercise price ($)		Number of options exercisable (#, in thousands)		Weighted- average exercise price ($)
$	0 to $1.00		1		5.80	$	0.85		1	$	0.85
$	1.01 to $2.00		79		5.97		1.78		76		1.77
$	2.01 to $3.00		1,353		5.39		2.66		1,168		2.62
$	3.01 to $4.00		1,764		7.40		3.50		1,439		3.52
$	4.01 to $5.00		310		8.41		4.79		124		4.74
$	5.01 to $6.00		4,083		8.72		5.29		1,553		5.25
$	6.01 to $7.00		523		9.21		6.46		100		6.49
$	7.01 to $8.00		182		9.44		7.69		23		7.75
$	8.01 to $964.24		41		2.40		251.19		41		251.19
			8,336		7.88		5.76		4,525		6.19