STOCKHOLDERS' EQUITY (Tables)

6 Months Ended

Jun. 30, 2016

Stockholders' Equity Note [Abstract]

Schedule of stockholders' equity, including warrants and rights



Warrant Holder	Issue Year	Expiration	Underlying Shares	Exercise Price
Various Institutional Holders⁽¹⁾	2012	February 2017	2,832,069	$4.36
Affiliates of Third Security, LLC⁽¹⁾	2012	February 2017	430,019	$4.36
Various Institutional Holders⁽²⁾	2013	January 2018	441,655	$9.00
Affiliates of Third Security, LLC⁽²⁾	2013	January 2018	250,000	$9.00
Various Institutional Holders⁽³⁾	2014	April 2020	374,618	$4.00
Various Institutional Holders⁽⁴⁾	2015	February 2020	714,780	$2.24
Various Institutional Holders⁽⁵⁾	2015	December 2020	122,433	$1.66
Various Institutional Holders⁽⁵⁾	2015	December 2020	667,164	$0.01
Various Institutional Holders⁽⁶⁾	2015	January 2021	1,161,972	$1.21
Affiliates of Third Security, LLC⁽⁷⁾	2016	January 2021	161,026	$1.21
Various Institutional Holders⁽⁷⁾	2016	January 2021	1,720,430	$1.21
			8,876,166

(1)

These warrants were issued in connection with the Private Placement completed in February 2012 and are classified as a liability in our financial statements. See Note 9 - “Fair Value” for additional information. These warrants also contain certain anti-dilution provisions that provide for an adjustment to the exercise price and number of shares issuable upon exercise of the warrant in the event that we engage in certain issuances of shares of our common stock at a price lower than the exercise price of the warrant.


(2)	These warrants were issued in connection with the 2013 Offering, which was completed in January 2013.


(3)	These warrants were issued in connection with the 2014 Private Placement, which was completed in October 2014.


(4)	These warrants were issued in connection with the February 2015 Offering, which was completed in February 2015.


(5)	These warrants were issued in connection with the July 2015 Offering, which was completed in July 2015.


(6)	These warrants were originally issued in connection with the July 2015 Offering, which was completed in July 2015, and were amended in connection with the January 2016 Offering, which was completed in January 2016.


(7)	These warrants were issued in connection with the January 2016 Offering, which was completed in January 2016.

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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