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Summary of Significant Accounting Policies (Tables)
6 Months Ended
Jun. 30, 2012
Summary of Significant Accounting Policies [Abstract]  
Weighted average estimates used in the Black-Scholes option-pricing model
                                 
    Three Months Ended
June 30,
    Six Months Ended
June 30,
 
    2012     2011     2012     2011  

Risk free interest rates

    1.0 %      1.7 %      1.3 %      2.2 % 

Expected life in years

    5.8 years       5.5 years       5.9 years       6.3 years  

Expected dividend yield

    0.0 %      0.0 %      0.0 %      0.0 % 

Expected volatility

    71.6 %      73.2 %      70.7 %      73.9 % 
Summary of stock based compensation expense included in statements of operations
                                 
    Three Months Ended
June 30,
    Six Months Ended
June 30,
 
    2012     2011     2012     2011  

Cost of product sales

  $ 78     $ 76     $ 187     $ 132  

Research and development

    350       613       886       1,221  

Selling, general and administrative

    1,453       1,607       3,679       3,217  
   

 

 

   

 

 

   

 

 

   

 

 

 

Total stock-based compensation expense included in loss from operations

  $ 1,881     $ 2,296     $ 4,752     $ 4,570  
   

 

 

   

 

 

   

 

 

   

 

 

 
Details of financial instruments carried at fair value
                                 

Description

  Balance at
June  30, 2012
    Fair Value Measurements as of
June 30, 2012
 
    Level 1     Level 2     Level 3  

Assets:

                               

Cash equivalents:

                               

Money market funds

  $ 85,685     $ 85,685     $ —       $ —    

Investments in marketable securities – short-term:

                               

Debt instruments – Municipal debt obligations

    2,772       —         2,772       —    

Certificates of deposit

    1,000       —         1,000       —    
   

 

 

   

 

 

   

 

 

   

 

 

 

Assets at fair value

  $ 89,457     $ 85,685     $ 3,772     $ —    
   

 

 

   

 

 

   

 

 

   

 

 

 

Description

  Balance at
December 31, 2011
    Fair Value Measurements as of
December 31, 2011
 
    Level 1     Level 2     Level 3  

Assets:

                               

Cash equivalents:

                               

Money market funds

  $ 74,389     $ 74,389     $ —       $ —    

Debt instruments – Corporate debt obligations

    6,346       —         6,346       —    

Investments in marketable securities – short-term:

                               

Debt instruments – Corporate debt obligations

    37,394       —         37,394       —    

Debt instruments – Municipal debt obligations

    6,224       —         6,224       —    

Certificates of deposit

    1,000       —         1,000       —    
   

 

 

   

 

 

   

 

 

   

 

 

 

Assets at fair value

  $ 125,353     $ 74,389     $ 50,964     $ —