公司奖金奖励方式报告分析

   We apply a forfeiture rate to the number of unvested awards in each reporting period in order to estimate the number of awards that

are expected to vest. Estimated forfeiture rates are based upon historical data on vesting behavior of employees. We adjust the total amount of compensation cost recognized for each award, in the period in which each award vests, to reflect the actual forfeitures related to that award.我们在每个报告期都会没收一些没有归属的期权奖励，来确保那些已经估算出来的奖励的发放。是基于归属员工的行为的历史数据，来预测没收率，我们调整了每个奖项的总金额补偿成本，在每一段奖金发放期间，以反映涉及到奖励情况的实际的没收率的情况。

  Changes in our estimated forfeiture rate will result in changes in the rate at which compensation cost for an award is recognized over its vesting period.

 

          Changes in the assumptions used to compute the fair value of the option awards are likely to affect the fair value of the non-qualifiedstock option awards and the amount of compensation expense recognized in future periods. A higher volatility, longer expected term and higherrisk-free rate increases the resulting compensation expense recognized in future periods as compared to prior periods. Conversely, a lowervolatility, shorter expected term and lower risk-free rate decreases the resulting compensation expense recognized in future periods ascompared to prior periods.

 

         For performance-based stock option awards vesting of a defined portion of each award will occur earlier if a defined performance

condition is achieved; more than one condition may be achieved in any period. We estimate the probability of achievement of each

performance condition and use those probabilities to determine the requisite service period of each award. The requisite service period for theaward is the shortest of the explicit or implied service periods. In the case of the CSO's options, the explicit service period is nine years and 11months from the respective grant dates.
The implied service periods related to the performance conditions are the estimated times for eachperformance condition to be achieved. 
Thus, compensation expense will be recognized over the shortest estimated time for the achievement ofperformance conditions for that award (assuming that the performance conditions will be achieved before the cliff vesting occurs). Forperformance and market-based stock option awards to our CEO (consisting of options in 2010) and CSO (consisting of options in 2010 and2009 and options and restricted stock in 2008), vesting occurs on the basis of the achievement of specified performance or market-basedmilestones. The options have an exercise price equal to the closing price on our common stock on the date of grant. The awards are valuedusing a Monte Carlo simulation model and the expense related to these grants will be recognized over the shortest estimated time for theachievement of the performance or market conditions. On July 1, 2011, we granted an option to our CEO which vests on the basis of theachievement of specified performance-based milestones. The option has an exercise price equal to the closing price of our common stock onthe date of grant.http://www.ukassignment.org/cwgllw/ 
The award is valued using the Black-Scholes option pricing model and the expense related to this grant will be recognizedduring the period in which one of the performance milestones is achieved. The awards will not vest unless one of the performance milestones isachieved or the market condition is met. Changes in the estimate of probability of achievement of any performance or market condition will bereflected in compensation expense of the period of change and future periods affected by the change.该奖项是使用很有价值的Black-Scholes期权定价模型模式颁发的，这笔款项的相关费用，将在一定期间内实现绩效指标的价值。该奖项将不会确定归属，除非你的绩效指标，满足了市场条件。这期间的变化和今后一个时期的变化，将受到受补偿费用的估计概率的影响，并最终造成市场条件的变化。

 

         Research and Development Expenses Including Clinical Trial Expenses. Clinical trial expenses, which are included in research anddevelopment expenses, represent obligations resulting from our contracts with various clinical investigators and clinical research organizationsin connection with conducting clinical trials for our product candidates. Such costs are expensed as incurred, and are based on the total numberof patients in the trial, the rate at which the patients enter the trial and the period over which the clinical investigators and clinical researchorganizations to provide services. We believe that this method best approximates the efforts expended on a clinical trial with the expenses werecord. We adjust our rate of clinical expense recognition if actual results differ from our estimates. In addition to clinical trial expenses, weestimate the amounts of other research and development expenses, for which invoices have not been received at the end of a period, based uponcommunication with third parties that have provided services or goods during the period. Such estimates are subject to change as additionalinformation becomes available.

 

         Fair Value Measurements. Our available-for-sale investment portfolio consists of money market funds and auction rate securities,

and is recorded at fair value in the accompanying Consolidated Balance Sheets in accordance with ASC 320 Investments – Debt and EquitySecurities. The change in the fair value of these investments is recorded as a component of other comprehensive income (loss).

 

         We continue to monitor markets for our investments and consider the impact, if any, of market conditions on the fair market value of

our investments.我们将继续监控市场，并考虑市场条件的影响，如果有影响的话，我们将会创造相对公平的市场条件。

 

          We expect to recover the amortized cost of all of our investments at maturity. Currently, we do not anticipate having to sell these

securities in order to operate our business and we believe that it is not more likely than not that we will be required to sell these securities before recovery of principal. We do not believe the carrying values of our investments are other than temporarily impaired and therefore expect the positions will eventually be liquidated without significant loss.

 

          Valuation of securities is subject to uncertainties that are difficult to predict, such as changes to credit ratings of the securities and/or the underlying assets supporting them, default rates applicable to the underlying assets, underlying collateral value, discount rates, counterparty risk, ongoing strength and quality of market credit and liquidity and general economic and market conditions.
The valuation of the auction rate securities we hold is based on an internal analysis of timing of expected future successful auctions, collateralization of underlying assets of the security and credit quality of the security.我们举行的拍卖利率证券的估值是基于内部分析的基础之上的，预测到未来成功的拍卖，我们会抵押相关安全性资产，确保信贷的安全。