Share- based Compensation

6 Months Ended

Jun. 30, 2014

Share-based Compensation

(7) Share-based Compensation

For the three and six month periods ended June 30, 2014 and 2013, the Company recognized the following non-cash, share-based compensation expense in the consolidated statements of operations (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2014		2013		2014		2013
Research and Development	$	42	$	14	$	82	$	29
General and Administrative		130		20		248		47
Total	$	172	$	34	$	330	$	76

Stock option and stock award transactions for the six month period ended June 30, 2014 under the Company’s stock incentive plans were as follows:

	Number of Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)
Options outstanding at December 31, 2013		843,442		$	3.76		8.94
Granted		200,079			1.91
Exercised	—			—
Forfeited and cancelled		(3,506	)		140.67
Options outstanding at June 30, 2014		1,040,015		$	2.94		8.71
Options exercisable at June 30, 2014		342,333		$	5.66		7.51
Options vested and expected to vest		1,030,851		$	2.95		8.70

	Number of Shares		Weighted Average Grant Date Fair Value
Restricted stock units outstanding at December 31, 2013		419,000	$	1.39
Granted		191,700		1.95
Vested and released	—		—
Forfeited and cancelled	—		—
Restricted stock units outstanding at June 30, 2014		610,700	$	1.57