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Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2013
Stock-Based Compensation  
Schedule of weighted average assumptions used to estimate fair value of each service-based stock option grant

 

 

 

 

Nine Months Ended 
September 30,

 

Service-Based Stock Options

 

2012

 

2013

 

Expected dividend rate

 

0%

 

0%

 

Expected stock price volatility

 

72.9 – 74.9%

 

74.0 – 87.9%

 

Risk-free interest rate

 

0.9 - 1.5%

 

0.1 - 2.1%

 

Expected life (years)

 

6.0 - 6.3

 

5.0 - 6.3

 

Summary of activity for service-based stock options

 

 

Service-Based Stock Options

 

Options

 

Weighted 
Average 
Exercise Price

 

Weighted Average 
Remaining 
Contractual Term 
(Years)

 

Aggregate 
Intrinsic Value

 

Outstanding at December 31, 2012

 

9,987,468

 

$

2.38

 

7.5

 

$

—

 

Granted

 

1,515,000

 

$

1.07

 

 

 

 

 

Exercised

 

—

 

$

—

 

 

 

$

—

 

Expired

 

(2,787,259

)

$

2.64

 

 

 

 

 

Forfeited

 

(2,275,186

)

$

2.27

 

 

 

 

 

Outstanding at September 30, 2013

 

6,440,023

 

$

1.99

 

7.6

 

$

—

 

Exercisable at September 30, 2013

 

2,982,001

 

$

2.35

 

6.1

 

$

—