Stockholders' Equity (Deficit) (Tables)

12 Months Ended

Jun. 30, 2012

Stockholders Equity Deficit Tables

Schedule of stock option activity

The following table summarizes our stock option activity (in thousands, except per share amounts):

	Options Outstanding
	Number of Options			Weighted Average Exercise Price per Share
Balance as of June 30, 2009		7,055		$	5.75
Exercised		(1,044	)		1.58
Granted		2,343			5.27
Forfeited or expired		(833	)		15.98
Balance as of June 30, 2010		7,521			5.05
Exercised		(1,987	)		2.87
Granted		1,939			5.86
Forfeited or expired		(1,057	)		12.27
Balance as of June 30, 2011		6,416			4.78
Exercised		(1,217	)		6.26
Granted		1,876			16.31
Forfeited or expired		(1,044	)		8.77
Balance as of June 30, 2012		6,031		$	7.37

Schedule of components of share-based compensation

The components of share-based compensation recognized in our statements of operations for the years ended June 30, 2012, 2011 and 2010 were as follows (in thousands):

	Year Ended June 30,
	2012		2011		2010
Research and development	$	6,947	$	5,307	$	1,998
General and administrative		2,926		2,511		1,192
Total share-based compensation	$	9,873	$	7,818	$	3,190

Schedule of fair value assumptions used to calculate fair value of options

The fair value of each stock option is estimated using the Black Scholes option-pricing model. Expected volatility is based on historical volatility data of our stock. The expected term of stock options granted is based on historical data and represents the period of time that stock options are expected to be outstanding.  The expected term for each of the types is calculated for and applied to one group of stock options as we do not expect substantially different exercise or post-vesting termination behavior among our employee population.  The risk-free interest rate is based on a zero-coupon United States Treasury bond whose maturity period equals the expected term of the our options.

	Year Ended June 30,
	2012			2011			2010
Employee stock options:
Expected dividend yield		-	%		-	%		-	%
Expected stock price volatility(1)		88	%		97	%		98	%
Risk free interest rate(1)		1.00	%		1.81	%		2.05	%
Expected life (years)		5.00			5.00			5.00
Non-employee stock options:
Expected dividend yield		-	%		-	%		-	%
Expected stock price volatility		84 – 89	%		85 - 86	%		88 - 90	%
Risk free interest rate		2.00 – 3.89	%		2.52 – 3.51	%		3.20 - 3.89	%
Expected life (years)		8.10 – 10.00			7.00 - 10.00			7.00 - 10.00

(1) Expected stock price volatility and risk free interest rate are presented on a weighted average basis

Schedule of outstanding, exercisable and vested stock options

A summary of outstanding, exercisable and vested stock options as of June 30, 2012 is as follows:

	Options Outstanding								Exercisable								Exercisable and Vested
Range of Exercise Prices	Number of Shares		Weighted Average Remaining Contractual Life		Weighted Average Exercise Price Per Share		Aggregate Intrinsic Value		Number of Shares		Weighted Average Remaining Contractual Life		Weighted Average Exercise Price Per Share		Aggregate Intrinsic Value		Number of Shares		Weighted Average Exercise Price Per Share		Aggregate Intrinsic Value
$0.75 - $0.86		1,213,670		6.29	$	0.80				1,071,170		6.24	$	0.80				1,036,421	$	0.80
$0.91 - $2.76		1,000,969		5.99	$	1.72				950,969		5.95	$	1.76				828,282	$	1.79
$2.90 - $6.56		983,754		5.15	$	5.10				961,363		5.09	$	5.11				766,183	$	4.96
$6.63 - $7.19		1,160,234		7.42	$	7.04				862,373		7.26	$	7.05				579,274	$	7.03
$7.48 - $11.29		989,902		7.69	$	8.97				775,335		7.34	$	8.57				337,168	$	8.26
$11.31 - $14.99		1,057,030		9.12	$	13.70				342,423		8.56	$	12.99				104,738	$	13.93
$15.02 - $15.63		430,460		9.40	$	15.53				247,282		9.37	$	15.52				39,945	$	15.47
$16.55 - $42.68		894,594		9.81	$	27.35				5,427		9.75	$	28.43				5,427	$	28.43
		7,730,613		7.42	$	9.11	$	351,777,328		5,216,342		6.61	$	5.48	$	256,253,441		3,697,438	$	4.11	$	186,711,729

Schedule of weighted average fair value assumptions under employee stock purchase plan

Compensation cost is estimated using the Black Scholes option-pricing model using the weighted average assumptions noted in the following table.

	Year Ended June 30,
	2012			2011			2010
Expected dividend yield		-	%		-	%		-	%
Stock price volatility		54	%		52	%		105	%
Risk free interest rate		0.15	%		0.21	%		0.53	%
Expected life (years)		1.14			0.63			1.20