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Stock Option Plans (Tables)
12 Months Ended
Dec. 31, 2012
Stock Option Plans [Abstract]  
Allocation of stock based compensation expense
On January 1, 2006, BioTime adopted a new accounting pronouncement, which requires the measurement and recognition for all share-based payment awards made to BioTime's employees and directors, including employee stock options.  The following table summarizes stock-based compensation expense related to employee and director stock options awards for the years ended December 31, 2012, 2011, and 2010, which was allocated as follows:
 
 
 
Year Ended December 31,
 
 
 
2012
 
 
2011
 
 
2010
 
All stock-based compensation expense:
 
 
 
 
 
 
 
 
 
Research and Development
 
$
815,052
 
 
$
885,581
 
 
$
473,893
 
General and Administrative
1,028,910
916,832
619,838
 
All stock-based compensation expense included in expenses
 
$
1,843,962
 
 
$
1,802,413
 
 
$
1,093,731
 
Schedule of weighted average assumptions to calculate fair value of stock options
The weighted-average estimated fair value of stock options granted during the years ended December 31, 2012 and 2011 was $4.13and $4.89 per share, respectively, using the Black-Scholes Merton model with the following weighted-average assumptions:
 
 
 
Year EndedDecember 31,
 
 
 
2012
 
 
2011
 
 
 
 
 
 
 
 
Expected life (in years)
 
 
6.35
 
 
 
6.46
 
Risk-free interest rates
 
 
1.06
%
 
 
1.85
%
Volatility
 
 
98.88
%
 
 
106.49
%
Dividend yield
 
 
0.0
%
 
 
0.0
%
Summary of stock option activity
A summary of all option activity under the 1992 Plan, 2002 Plan, and the 2012 Plan for the years ended December 31, 2012, 2011, and 2010, is as follows:
 
 
 
Options
Available for
Grant
 
 
Number of
Options
Outstanding
 
 
Weighted
Average
Exercise
Price
 
January 1, 2010
 
 
2,087,168
 
 
 
3,477,000
 
 
$
1.13
 
Granted
 
 
(245,000
)
 
 
245,000
 
 
 
6.75
 
Exercised (1)
 
 
-
 
 
 
(401,410
)
 
 
1.56
 
December 31, 2010
 
 
1,842,168
 
 
 
3,320,590
 
 
$
1.13
 
Granted
 
 
(560,443
)
 
 
560,443
 
 
 
4.89
 
Exercised
 
 
-
 
 
 
(450,660
)
 
 
0.50
 
Forfeited/expired
 
 
21,468
 
 
 
(21,468
)
 
 
5.60
 
December 31, 2011
 
 
1,303,193
 
 
 
3,408,905
 
 
$
2.18
 
Granted under 2002 Plan
 
 
(280,000
)
 
 
280,000
 
 
 
4.75
 
Granted under 2012 Plan
 
 
(255,000
)
 
 
255,000
 
 
 
3.45
 
Exercised
 
 
-
 
 
 
(98,541
)
 
 
2.91
 
Forfeited/expired under 2002 Plan
 
 
-
 
 
(164,063
)
 
 
5.60
 
Added by 2012 Plan (2)
4,000,000
-
-
Reduce options ungranted under 2002 Plan(3)
 
 
(1,023,193
)
-
-
December 31, 2012
 
 
3,745,000
 
 
 
3,681,301
 
 
$
1.96
 
 
1)  
This table excludes 250,000 options which were granted in 2008 outside the 1992 Plan and 2002 Plan, of which 125,000 were exercised in 2009 and the remaining 125,000 were exercised in 2010.
2)  
During December 2012, the 2012 Equity Incentive Plan was approved by the BioTime Board of Directors making 4,000,000 common shares available for the grant of options.  This plan has not yet been approved by the shareholders.
3)  
During September 2012, the 2002 Plan expired.
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Additional information regarding options outstanding
 
 
 
 
 
 
Options Outstanding
 
 
Options Exercisable
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Range of Exercise
Prices
 
 
Number
Outstanding
 
 
Weighted Avg.
Remaining
Contractual Life
 
 
Weighted Avg.
Exercise Price
 
 
Number
Exercisable
 
 
Weighted Avg.
Exercise Price
 
 
 
 
 
 
 
(years)
 
 
 
 
 
 
 
 
 
 
$
0.50
 
 
 
1,970,400
 
 
1.77
 
$
0.50
 
 
 
1,970,400
 
 
$
0.50
 
 
2.30-8.58
 
 
 
1,710,901
 
 
4.06
 
 
4.43
 
 
 
1,004,007
 
 
 
4.36
 
$
0.50-$8.58
 
 
 
3,681,301
 
 
2.84
 
$
2.32
 
 
 
2,974,407
 
 
$
1.80
 
OncoCyte, OrthoCyte, ReCyte Therapeutics, Cell Cure Neurosciences, LifeMap and BioTime Asia [Member]
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Additional information regarding options outstanding
 
 
 
 
 
 
Options Outstanding
 
 
Options Exercisable
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Range of Exercise
Prices
 
 
Number
Outstanding
 
 
Weighted Avg.
Remaining
Contractual Life
 
 
Weighted Avg.
Exercise Price
 
 
Number
Exercisable
 
 
Weighted Avg.
Exercise Price
 
 
 
 
 
 
 
 
(years)
 
 
 
 
 
 
 
 
 
 
 
 
 
$
0.003-$0.10
 
 
 
5,216,226
 
 
 
6.95
 
 
$
0.37
 
 
 
2,790,371
 
 
$
0.34
 
 
1.00-1.75
 
 
 
1,042,347
 
 
 
6.01
 
 
 
1.37
 
 
 
212,250
 
 
 
1.01
 
 
2.05
 
 
 
1,550,000
 
 
 
7.43
 
 
 
2.05
 
 
 
681,250
 
 
 
2.05
 
 
27.00-42.02
 
 
 
7,840
 
 
 
7.80
 
 
 
37.35
 
 
 
7,840
 
 
 
37.35
 
$
0.003-$42.02
 
 
 
7,816,413
 
 
 
6.92
 
 
$
0.87
 
 
 
3,691,711
 
 
$
0.77