Stock-Based Compensation

6 Months Ended

Jun. 30, 2011

Stock-Based Compensation

9.     Stock-Based Compensation

The Company awards stock options and other equity-based instruments to its employees, directors and consultants and provides employees the right to purchase common stock (collectively “share-based payments”), pursuant to stockholder approved plans.  The Company’s statement of operations included total compensation cost from share-based payments for the three and six-month periods ended June 30, 2011 and 2010, as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
In thousands	2011		2010		2011		2010
Compensation cost from:
Stock options	$	718	$	545	$	1,606	$	1,021
Stock and stock units		1,156		669		2,618		1,677
Purchases of common stock at a discount		43		36		97		86
	$	1,917	$	1,250	$	4,321	$	2,784

	Three Months Ended June 30,				Six Months Ended June 30,
In thousands	2011		2010		2011		2010
Compensation cost included in:
Research and development expenses	$	947	$	631	$	2,105	$	1,128
General and administrative expenses		970		619		2,216		1,656
	$	1,917	$	1,250	$	4,321	$	2,784

Stock option activity under the Company’s stock plans for the six months ended June 30, 2011 was as follows:

	Number of Shares			Weighted Average Exercise Price Per Share
Options outstanding, January 1, 2011		7,177,191		$	4.42
Granted		1,231,219			7.28
Forfeited		(490,251	)		4.87
Exercised		(959,869	)		4.48
Options outstanding, June 30, 2011		6,958,290		$	4.89

Stock and stock unit activity under the Company’s stock plans for the six months ended June 30, 2011 was as follows:

	Number of Shares			Weighted Average Grant Date Fair Value
Outstanding, January 1, 2011		2,779,300		$	2.83
Granted		1,220,681			7.34
Forfeited		(97,533	)		3.93
Vested or restrictions lapsed		(1,111,007	)		3.68
Outstanding, June 30, 2011		2,791,441		$	4.43

Included in the stock and stock unit awards granted in 2011 are 400,000 share units that vest based on certain performance conditions.