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Equity Plans and Share-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2013

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share-based compensation cost by line item

The share-based compensation expense recognized in the Condensed Statements of Operations was as follows:



	For the three months ended September 30,				For the nine months ended September 30,
	2013		2012		2013		2012
Share-based compensation cost included in:
Research and development	$	58,898	$	82,623	$	183,725	$	252,800
Selling, general and administrative	111,548		127,039		354,640		508,551
Total share-based compensation cost	$	170,446	$	209,662	$	538,365	$	761,351

Share-based compensation cost by award type

The following table presents share-based compensation expense by type:



	For the three months ended September 30,				For the nine months ended September 30,
	2013		2012		2013		2012
Type of Award:
Stock Options	$	96,911	$	104,939	$	298,455	$	379,607
Restricted Stock Units and Awards	73,535		104,723		239,910		381,744
Total share-based compensation cost	$	170,446	$	209,662	$	538,365	$	761,351

Share-based compensation fair value assumptions

Fair value was calculated using the Black-Scholes Model with the following assumptions:



	For the nine months ended September 30,
	2013	2012
Expected volatility	97%	103%
Risk free interest rate	1%	1%
Expected dividends	—	—
Expected life (in years)	5.2	5.2

- Definition

Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

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