Fair Value of Assets and Liabilities (Tables)

9 Months Ended

Sep. 30, 2012

Fair Value of Assets and Liabilities [Abstract]

Assets and liabilities measured and recorded in the financial statements at fair value on a recurring basis

The table below presents the assets and liabilities measured and recorded in the financial statements at fair value on a recurring basis at September 30, 2012 and December 31, 2011 categorized by the level of inputs used in the valuation of each asset and liability.

(In thousands)	Total		Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
September 30, 2012
Assets
Money market fund	$	8,284	$	8,284	$	—	$	—
Total assets	$	8,284	$	8,284	$	—	$	—
Liabilities
Warrant liability	$	1,072	$	—	$	—	$	1,072
Total liabilities	$	1,072	$	—	$	—	$	1,072
December 31, 2011
Assets
Money market fund	$	24,532	$	24,532	$	—	$	—
Total assets	$	24,532	$	24,532	$	—	$	—
Liabilities
Warrant liability	$	1,178	$	—	$	—	$	1,178
Total liabilities	$	1,178	$	—	$	—	$	1,178

Assumptions and other inputs used to compute the fair value of the warrant liability

The following assumptions and other inputs were used to compute the fair value of the warrant liability as of September 30, 2012, June 30, 2012 and December 31, 2011:

	September 30, 2012			June 30, 2012			December 31, 2011
Common stock price	$	1.03		$	1.06		$	1.05
Expected warrant exercise price	$	1.46		$	1.46		$	1.46
Remaining term of warrant (years)		4.1			4.4			4.8
Expected volatility		60	%		61	%		58	%
Average risk free interest rate		0.5	%		0.6	%		0.8	%
Expected dividend yield		—			—			—
Expected percentage of warrants to be exercised		100	%		100	%		100	%

Changes in the warrant liability

Changes in the warrant liability from December 31, 2011 to September 30, 2012 were as follows:

(In thousands)	Fair Value of Warrant Liability
Balance, December 31, 2011	$	1,178
Increase (decrease) in fair value:
Three months ended March 31, 2012		1,321
Three months ended June 30, 2012		(1,318	)
Three months ended September 30, 2012		(109	)
Nine months ended September 30, 2012		(106	)
Balance, September 30, 2012	$	1,072