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Stock Options and Stock-based Employee Compensation (Tables)

12 Months Ended

Dec. 31, 2012

Stock Options and Stock-based Employee Compensation [Abstract]

A summary of activity under our long-term incentive plans is presented below:

(in thousands, except for weighted-average data)				Weighted- Average	Weighted- Average Remaining
Stock Options	Shares			Exercise Price	Contractual Term (In Yrs)

Outstanding at December 31, 2009	1,065		$	56.46

Granted	20			3.19
Exercised	–			–
Forfeited or expired	(142	)		51.93
Outstanding at December 31, 2010	943		$	56.06

Granted	1,771			1.84
Exercised	–			–
Forfeited or expired	(276	)		44.95
Outstanding at December 31, 2011	2,438		$	17.97

Granted	1,724			2.63
Exercised	(3	)		1.83
Forfeited or expired	(162	)		24.39
Outstanding at December 31, 2012	3,997		$	11.11	7.9

Exercisable at December 31, 2012	1,654		$	23.53	6.9

Nonvested Option Activity

A summary of nonvested shares issuable upon exercise of outstanding options and changes during 2012 is presented below:

(shares in thousands)	Option Shares			Weighted- Average Grant- Date Fair Value

Non-vested at December 31, 2011		1,771		$	1.85
Granted		1,724			2.63
Vested		(1,087	)		2.04
Forfeited		(65	)		2.37
Non-vested at December 31, 2012		2,343		$	2.33

Options Outstanding, Vested and Exercisable

The following table provides detail with regard to options outstanding, vested and exercisable at December 31, 2012:

(shares in thousands)

Outstanding

Vested and Exercisable

Price per share

Weighted-

Average Price

per Share

Weighted- Average Remaining Contractual Life

Weighted-

Average Price

per Share

Weighted- Average Remaining Contractual Life

$1.58 - $156.45

3,997

11.11

7.9 Years

1,654

23.53

6.9 Years

Employee stock-based compensation

Stock-based compensation expense was classified as follows:

	December 31,
(in thousands)	2012		2011		2010

Research and development	$	487	$	289	$	479
Selling, General and administrative		1,924		578		931
Total	$	2,411	$	867	$	1,410

Weighted-average assumptions in estimating fair value of options

The fair value of each option award is estimated on the date of grant using the Black-Scholes option-pricing formula that uses assumptions noted in the following table. Expected volatilities are based upon the historical volatility of our common stock and other factors. We also use historical data and other factors to estimate option exercises, employee terminations and forfeiture rates within the valuation model. The risk-free interest rates are based upon the U.S. Treasury yield curve in effect at the time of the grant.

	December 31,
	2012	2011	2010

Weighted average expected volatility	111%	113%	112%
Weighted average expected term	4.6 years	4.8 years	4.9 years
Weighted average risk-free interest rate	0.74%	1.08%	1.47%
Expected dividends	–	–	–

- Definition

Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

+ References+ Details

- Definition

Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.

+ References+ Details